Rating downgrades discourage investors – JVP

JVP MP Dr. Harini Amarasuriya, yesterday, said investors were discouraged by the continuous downgrading of the country’s credit ratings.

Speaking at an event in Colombo, MP Amarasuriya said import costs had increased as the country was going through a forex crisis. The President’s agricultural policy had been a disaster and that in the coming months, the government would have to import large volumes of food.

Amarasuriya added that Sri Lanka’s relations with other nations had deteriorated and that too would have an adverse impact on the country.

Dr. Amarasuriya said that international rating agencies were independent and that their ratings were very important for investors to make decisions.

“Investors don’t consult Ajith Nivard Cabraal before investing. Besides, in other countries, it is economic experts, not politicians, who become Central Bank Governors,” she added.