New Delhi, Sept. 24 -- The upgrade of Sri Lanka's sovereign rating by Fitch Ratings from 'CCC+' to 'B-', with a Stable Outlook, reflects the continued progress in macroeconomic stabilisation and reforms, says the Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe.



He stated that following the severe economic crisis in Sri Lanka, the restoration of macroeconomic stability has provided a stronger foundation for the next phase of development for the country.



"This progress has also been recognised by the upgrade of Sri Lanka's sovereign rating by Fitch Ratings to 'B-' from 'CCC+', with a Stable Outlook, announced yesterday, reflecting the continued progress in macroeconomic stabilisation and reforms."



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