Sri Lanka announces default on all its external debt
Shortpedia
Content Team
Image Credit: DNA India
Crisis-stricken Sri Lanka Tuesday announced it would default on its $51 billion external debt pending a bailout from the International Monetary Fund. The finance ministry said creditors, including foreign governments that had lent to the South Asian nation, were free to capitalise any interest payments due to them from Tuesday afternoon or opt for payback in Sri Lankan rupees.
