Saturday, 20 June 2015 - 12:59
Postponing General Election will affect investment in Sri Lanka - statement from international audit firm
Moody’s International Audit firm says that the country’s political clashes within parliament and the uncertainty regarding the date of holding the General Election will have an adverse effect on investors.
During the last presidential election, the power transfer occurred in a peaceful manner, portraying the strength of the Sri Lankan democratic institutes.
It also showed that after facing a long running war the country is now stable.
However, Moody’s stated that the country’s current political instability is discouraging investors.
In addition, the country’s foreign reserves have dropped to US$ 6.5 billion by April this year due to this reason.