Printed on Mon May 16 2022 8:55:09 AM

Sri Lanka declared itself a defaulter

International Desk
Sri Lanka defaulter
Sri Lanka, which is facing economic crisis, has made a big announcement. Sri Lanka has expressed its inability to repay the foreign debt i.e. Sri Lanka has declared itself as a defaulter. The Finance Ministry of the country has given information about this.

Earlier the country was expecting a bailout package from the IMF on this loan, but due to not getting approval yet, the country’s Finance Minister said that he would not be able to pay this loan.

The Finance Ministry of Sri Lanka said that it is not in a position to pay the debts of other countries. Sri Lanka said that the lenders can charge interest on their loans or they can withdraw the loan amount in Sri Lankan rupees. Let us tell you that the foreign exchange reserves of the country have been completely exhausted, due to which it is not in a position to pay in dollars.
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