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Tuesday, 01 August 2017 - 13:31
International rating agency hails Hambanthota port agreement
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Moody’s said The Hambantota port deal is credit positive for Sri Lanka because it will boost foreign-exchange reserves, which will ease the government’s external liquidity position ahead of several large international bond payments in 2019-22,

Last Tuesday, the government of Sri Lanka announced that it had finalized its deal to sell a majority stake in Hambantota Port to China Merchants Port Holdings Company Limited for 1.12 billion dollars and under a lease term of 99 years.

Earnings from the Hambantota Port stake sale will feed into the central bank’s foreign-exchange reserves, which will help bolster investor confidence and encourage future portfolio inflows.

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