We have added Sri Lanka to our top country picks after our recent visit to the country in June 2023.
The country’s macroeconomic position has stabilised, and this is a turnaround story as extremely cheap valuations get re-rated by declining interest rates which we expect will fall significantly as inflation drops.
Furthermore, a strong rebound in tourism and remittance earnings will support an improving macroeconomic position and, more importantly, help build foreign exchange reserves.
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