“Sri Lanka warned of an unprecedented default and halted payments on foreign debt, an extraordinary step taken to preserve its dwindling do...

Sri Lanka Heads Towards Default



“Sri Lanka warned of an unprecedented default and halted payments on foreign debt, an extraordinary step taken to preserve its dwindling dollar stockpile for essential food and fuel imports.”
-Asantha Sirimanne @ Bloomberg

It’s not everyday that you see a country default on debt payments. Sri Lankan officials have stated they are hoarding cash to buy food and essential supplies for the country.  

Here is a link to the official release from Sri Lanka’s Treasury

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