Cyclone Ditwah set to strain SL’s post-default fiscal consolidation: Moody’s

SAYS ECONOMIC IMPACT OF CYCLONE AND SPENDING TO DEAL WITH AFTERMATH WILL STYMIE POST-DEFAULT FISCAL CONSOLIDATION IDENTIFIES TOURISM, AGRICULTURE AND MANUFACTURING AS HARDEST-HIT SECTORS POINTS OUT SRI LANKA HAS MUCH WEAKER FISCAL CAPACITY TO INCREASE ITS RESILIENCE THAN ITS NEIGHBOURS ASSERTS EFFECTIVE GOVERNANCE |S CRUCIAL IN MITIGATING CLIMATE-RELATED RISKS

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A man pauses to move a sign board while trying to move through flood-hit city of Gampaha PIC BY KUSHAN PATHIRAJAH

(KUSHAN PATHIRAJAH)

Sri Lanka’s efforts to stabilise its finances after its debt default are expected to face fresh pressure due to the economic fallout from Cyclone Ditwah, Moody’s Investors Service said.