Category: Business & Economy
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Moody’s Warns Cyclone Ditwah Spending to Slow Sri Lanka’s Fiscal Recovery
Sri Lanka’s post-default fiscal consolidation is expected to weaken as the government allocates additional funds to rebuild infrastructure damaged by Cyclone Ditwah, Moody’s Ratings has cautioned. Despite the country’s continued commitment to the IMF-supported reform programme, Moody’s said recovery efforts will temporarily hinder progress in reducing the budget deficit. The cyclone caused extensive destruction to