Sri Lanka officially ended its debt default, paving the way for easier borrowing.
The nation's Finance Ministry, said that 20 Dec marked a major milestone in the country's economic recovery process as Sri Lanka officially exited sovereign default. Fitch upgraded Sri Lanka's long-term foreign-currency default rating to CCC+ from restricted default after creditors approved the nation's $12.55 billion debt.
Medium term interest for the government to be high
Despite the debt restructuring the "general government debt/GDP and the interest/revenue ratio are likely to stay high in the medium term", Fitch Ratings said.
In 2022, Sri Lanka plunged into an economic crisis, defaulted on its foreign debt due to its high debt burden amid the Covid pandemic.
India has been a good neighbour, in that, it had helped Bangladesh whenever she had a problem!
Tailpiece.
Got up at my usual time, the chores and was ready by 10.
The maid was at work.
It was a quiet Sunday.
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