Sri Lanka asks experts to plan debt restructure as protests rage ...Middle East

COLOMBO: Sri Lanka's president has appointed a panel of experts to organise a restructuring of foreign debt as he seeks a way out of a worsening economic crisis, with protests demanding his resignation escalating.Shortages of food and fuel, along with record inflation and regular blackouts, have inflicted unprecedented misery on Sri Lankans in the most painful downturn since independence from Britain in 1948.Ratings agencies have warned of a potential default on the nation's $51 billion foreign debt, with authorities unable to secure more commercial loans because of credit downgrades.President Gotabaya Rajapaksa’s office said late Wednesday that a three-member advisory panel had been tasked

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Last updated : 07 April 2022 clock 05:56 PM

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Sri Lanka asks experts to plan debt restructure as protests rage ...Middle East

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