Fitch Ratings cites Sri Lanka’s banking system as a source of concern.
Their latest report states that this is due to the large number of securities issued by the government in foreign exchange and the weakening of capital.
The report states that, one-third of the assets of the Sri Lankan banking system will be open to the government, and that the foreign exchange market will be opened up through the acquisition of government securities by local banks by the end of 2020.
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