Sri Lanka announces default on all its external debt$51bn. They ran out of foreign exchange to buy f

Apr 12, 2022
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Sri Lanka announces default on all its external debt

$51bn.

They ran out of foreign exchange to buy food, fuel, etc.

The government there said foreign governments et al were free to recapitalize any interest payments, or to accept rupees.

SR needed $7b to service its debt this year but only had $2b in reserves.

New Delhi has sent thousands of tons to Colombo as part of a multi-pronged support plan.

Protests there for leader to step down.

#SriLanka
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<div><b>Sri Lanka announces default on all its external debt</b></div><div><br></div><div>$51bn. <br></div><div><br></div><div>They ran out of foreign exchange to buy food, fuel, etc.</div><div><br></div><div>The government there said foreign governments et al were free to recapitalize any interest payments, or to accept rupees. <br></div><div><br></div><div>SR needed $7b to service its debt this year but only had $2b in reserves. <br></div><div><br></div><div>New Delhi has sent thousands of tons to Colombo as part of a multi-pronged support plan.</div><div><br></div><div>Protests there for leader to step down.<br></div><div><br></div><div> </div><div><a href="http://landandseajournal.com/post/hashtag/SriLanka"><a href="http://landandseajournal.com/post/hashtag/SriLanka">#SriLanka</a></a> <br></div>
Sri Lanka announces default on all its external debt

$51bn.

They ran out of foreign exchange to buy food, fuel, etc.

The government there said foreign governments et al were free to recapitalize any interest payments, or to accept rupees.

SR needed $7b to service its debt this year but only had $2b in reserves.

New Delhi has sent thousands of tons to Colombo as part of a multi-pronged support plan.

Protests there for leader to step down.

#SriLanka

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