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May 24, 2024
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International

Sri Lanka Announces Default On Its All External Debt

NB BUREAU

Crisis-hit 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.

More details coming soon

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