Sri Lanka defaults on debt for first time in its history – BBC News (Blood Moon in May 18th)

https://timesofindia.indiatimes.com/world/south-asia/crisis-hit-sri-lanka-to-default-on-debt-minister-says-no-money-to-buy-petrol-key-developments/articleshow/91641304.cms#aoh=16529856278555&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s

https://www.bbc.com/news/business-61505842#aoh=16529855638573&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s

NEW DELHI: Shortage of petrol, medicines, foreign reserves, cooking gas and other essentials has put once-booming Sri Lanka is in a mess. The island nation is going through the worst economic crisis since independence in 1948, and power cuts and soaring food prices have just added to the misery of its people.

Sri Lanka has defaulted on its debt for the first time in its history as the country struggles with its worst financial crisis in more than 70 years.

It comes after a 30 day grace period to repay $78m (£63m) of unpaid debt interest payments expired on Wednesday.

The governor of Sri Lanka’s central bank said the country was now in a “pre-emptive default”.

Defaults happen when governments are unable to meet some or all of their debt payments to creditors.


The Tribulation is commencing…

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