Sri Lanka officially defaults on its debt, for first time in history
Shortpedia
Content Team
Image Credit: deccan herald
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 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".
