Sri Lanka defaults on $51-B debt

By Agence France-Presse

Apr 13, 2022 12:19 am

COLOMBO: Crisis-stricken Sri Lanka defaulted on its $51-billion external debt on Tuesday, calling the move a 'last resort' after running out of foreign exchange to import desperately needed goods.

The South Asian island nation is grappling with its worst economic downturn since its independence in 1948, with regular blackouts and acute shortages of food and fuel.

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