Sri Lanka

Sri Lanka: Rajapaksas like it's 2010 (in one chart)

  • Super majority evokes hope of decisive policy on security and economy but fear of authoritarianism and fiscal profligacy

  • Fiscal deficit of 10%, external debt 70% of GDP, IMF deal point to austerity but pressure on economy point to stimulus

  • Impossible square to circle but equities (MSCI SL) are cheap at 50% discount to 5y median PB vs 20% for non-Tech Asia EM
August 9th, 2020
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