Fitch: Sri Lanka banks resilient

Fitch Ratings said that the Sri Lankan banking sector continues to be resilient in the face of a weak macroeconomic environment and prolonged internal conflict.

In a special report to be published soon, Fitch noted that the sector has had little direct exposure to the conflict and its ramifications, as it did to the December 26 tsunami in 2004.

However, the state's recent fiscal weaknesses, its resulting effect on monetary policy stability and overall policy consistency have been, and will be, the sector's primary concerns in the short to medium term, Fitch said.

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