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FinancialNews


  • 12-04-22

    Sri Lanka stops external debt payments to evade tough deficiency

    (MENAFN) Sri Lanka would temporarily halt international debt payments to evade a harsh default, the central bank governor announced on Tuesday, citing the nation's inadequate financial assets as a reason.

    Governor P Nandalal Weerasinghe declared that "it has come to a point that making debt payments are challenging and impossible. The best action that can be taken is to restructure debt and avoid a hard default."

    Sri Lanka is set to begin negotiations with the International Monetary Fund on a loan program coming weeks, despite the nation's ongoing power outages and food and medication shortages.

    MENAFN12042022000045014146ID1103998036

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