Sri Lanka defaults on debt for first time in its history

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The default comes as the country struggles with its worst financial crisis in more than 70 years. …

Asked whether the country was now in default, central bank governor P Nandalal Weerasinghe said: “Our position is very clear, we said that until they come to the restructure [of our debts], we will not be able to pay. So that’s what you call pre-emptive default.

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