Sovereign Analysis /
Global

Reserves are approaching rock bottom in Ethiopia and Sri Lanka

  • Reserves have dropped to c1 month of imports in Ethiopia and Sri Lanka as external liquidity constraints worsen

  • Raises the risk that bondholders will be included in the restructuring in Ethiopia; retain Hold

  • Hastens the need for an IMF agreement in Sri Lanka but delays are likely; retain Hold

Reserves are approaching rock bottom in Ethiopia and Sri Lanka
Patrick Curran
Tellimer Research
5 May 2022
Published byTellimer Research

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