Sri Lanka crisis is a warning to other Asian nations
Rising interest rates are making debt repayment costlier, putting Asian emerging markets at risk of default. …
Sri Lanka is struggling to pay for crucial imports like food, fuel and medicine for its 22 million people, as it battles a foreign exchange crisis. Inflation has soared about 50%, with food prices 80% higher than a year ago. The Sri Lankan rupee has slumped in value against the US dollar and other major global currencies this year.
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