Sri Lanka to Default on ENTIRE $51BN External Debt (reports)
The Central bank of Sri Lanka claims the country will default on ALL of its external debt after it suspended debt payments Tuesday - unless it receives a massive bailout. (AFP)
Sri Lanka has approached the IMF seeking an emergency recovery program, as 13-hour daily power cuts have been imposed.
All but two of Sri Lanka’s entire cabinet resigned on April 4, with the new Finance Minister quitting too within 24 hours.
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The Central bank of Sri Lanka claims the country will default on ALL of its external debt after it suspended debt payments Tuesday - unless it receives a massive bailout. (AFP)
Sri Lanka has approached the IMF seeking an emergency recovery program, as 13-hour daily power cuts have been imposed.
All but two of Sri Lanka’s entire cabinet resigned on April 4, with the new Finance Minister quitting too within 24 hours.
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