The Central Bank of Sri Lanka (CBSL) has appointed a high level Sovereign Rating Committee, comprising CBSL officials and private sector businessman to conduct regular reviews on the developments of the economy and convey these improvements to rating agecies through rating advisors to upgrade the country’s rating level.
According to the CBSL Road Map for 2010 and beyond, the Bank is taking necessary steps to upgrade the country’s sovereign rating from the current B+ (stable)/B (positive) to an investment grade of BBB- or higher over the next four year period.
CBSL said in a statement this week that there is a carefully designed, forward looking and effective strategy with the participation and cooperation of the all stakeholders, country authorities, private sector business leaders, chambers and rating advisors, will be implemented. Members of the Committee include CEO of Brandix Lanka Ashroff Omar, Managing Director of Nestle Lanka David Saudan, Chairman of the Ceylon Chamber of Commerce (CCC) Anura Ekanayake, Managing Director of Triad Dilith Jayaweera, Secretary General of the Bankers’ Association Upalid de Silva and Managing Director of Lanka IOC Suresh Kumar.
CBSL officials include the Deputy Governor K.G.D.D. Dheerasinghe who will also serve as Committee Chairman, Assistant Governor J. Mampitiya, Director of Economic Research K.D. Ranasinghe, Superintendent of Public Debt C.J.P. Siriwardena and Additional Superintendent of Public Debt C.N. Wijayasekera. Also included in the Committee is the Deputy Secretary of the Treasury U.R. Seneviratne.