Sri Lanka’s sovereign rating, which is on par with Kenya and Ukraine, may be raised as funds from a $2.5 billion International Monetary Fund loan improved the “external liquidity situation,” Standard & Poor’s said.
Pakistan’s most destructive floods are a “temporary setback” and won’t have a bearing on the nation’s credit rating, Standard & Poor’s said even as the government predicted the disaster will hurt growth.
Nawaz Sharif was headed for a record third term as prime minister of Pakistan as unofficial results from a landmark election gave him the convincing win he sought to tackle a slumping economy and growing militancy.
For K. Indrani, who cleans homes in Colombo to support her invalid husband and 16-year-old daughter, living on the 600 rupees ($4.70) she earns a day just got harder because the Sri Lankan government raised fuel prices in February.
Indonesia’s surprise interest-rate increase yesterday boosted the rupiah, stemming the currency’s biggest monthly decline in almost five years. To drive a sustained revival, the government needs to curb the country’s record current-account gap.
The Philippines is nearing its goal of achieving an investment grade credit rating, central bank Governor Amando Tetangco said as the government prepares to meet Standard & Poor’s, Moody’s Investors Service and Fitch Ratings.