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Capital market progress disappointing, Big Barks but No Tails..

Capital market progress disappointing: Fitch: “It is more than 10 years since we talked about an accelerated capital market master plan. I did work on that in 2007. We have really not even moved an inch. It is disappointing to see the progress of our capital market in Sri Lanka. I think we have to blame ourselves,” he said.

From a rating perspective, Wickremasinghe said the number of corporates, bank and non-bank as well as insurance, was almost static at present.

Noting that the Asian Development Bank (ADB) has allocated $ 250 million for a capital market development program, he said: “Of course they have some caveats but it is really up to us to move this process forward.”�

He highlighted that if not for the capital market in a country, there is no necessity for a rating agency.�

Acknowledging that there is serious concern regarding Sri Lanka’s policies, Wickremasinghe questioned the need to announce tax proposals which cannot be implemented.
Capital market progress disappointing, Big Barks but No Tails..SocialTwist Tell-a-Friend

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