Sri Lanka Set For Series Of Defaults
Apr 19, 2022 ·
55s
A leading credit rating agency says Sri Lanka is set to see a series of defaults after it said it would suspend foreign debt interest payments. Sri Lanka's finance ministry...
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A leading credit rating agency says Sri Lanka is set to see a series of defaults after it said it would suspend foreign debt interest payments.
Sri Lanka's finance ministry confirmed that it would miss $78m of debt interest payments.
Sri Lankan officials started talks with the International Monetary Fund as it faces its worst economic crisis in more than 70 years.
Shamir Zavahir, an aide to finance minister Ali Sabry, says the IMF held the initial view that a request for a Rapid Financing Instrument or emergency funding, doesn't meet their criteria.
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Sri Lanka's finance ministry confirmed that it would miss $78m of debt interest payments.
Sri Lankan officials started talks with the International Monetary Fund as it faces its worst economic crisis in more than 70 years.
Shamir Zavahir, an aide to finance minister Ali Sabry, says the IMF held the initial view that a request for a Rapid Financing Instrument or emergency funding, doesn't meet their criteria.
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