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Sri Lanka in a state of indebtedness – what happens next?
54 minutes ago
Two of the world’s largest credit rating agencies have announced that Sri Lanka has defaulted. Debt defaults when a country is unable to pay the full installment or part of the installment.
Sri Lanka on Wednesday defaulted on a one-month grace period for the payment of $ 78 million in interest payments.
When this happens the country loses influence among investors. This makes it difficult to borrow in the international credit market. It will further weaken the country’s confidence in the economy and money.
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