Skyrocketing inflation, political unrest and looming debt default. Another country’s economy is now failing in what’s likely to be a year or two of falling dominoes for at-risk economies. A month of increasingly desperate headlines has culminated in two leading ratings agencies warning Sri Lanka is about to default on its national debt, a crisis that would take decades to resolve for the small nation off the south east coast of India. S&P Global Ratings says that a default is now a “virtual certainty”. Fitch Ratings has lowered its assessment claiming “a sovereign default process has begun”. For their part […]
The story Sri Lanka poised to default on its international debt as seen on Thaiger News.