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Sri Lanka falls into default for the first time ever


May, 19 2022

Sri Lanka has officially defaulted on its external debt, experiencing shock from a succession of civil unrests and inefficient economic management. At the moment, there is a widespread shortage of food and energy in the country, and the strongest inflation is raging. The governor of the central bank of Sri Lanka, Nandalal Virasinghe, said that the peak of inflation in the country is expected to be around 40%.In addition, the national currency of the country is falling uncontrollably. The combina... Read More

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