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  2. Sri Lanka sovereign default - Wikipedia

    en.wikipedia.org/wiki/Sri_Lanka_sovereign_default

    Sri Lanka has seen external instability from around late 2014 suffering two currency crises and low growth with the rupee falling from 131 to 182 to the US dollar by 2018. [6] Foreign debt rose from 30% of gross domestic product in 2014 to 41.3% in 2019 while total debt went up from 76% to 86% as growth slowed amid [ 7 ] Sovereign bond ...

  3. List of sovereign debt crises - Wikipedia

    en.wikipedia.org/wiki/List_of_sovereign_debt_crises

    To restore state credit, the royal ministry called the Estates General of 1789 to make structural reforms to state revenue. [12] France: 1797: Deflation after the withdrawal of the assignat and mandat territorial led Finance Minister Dominique-Vincent Ramel-Nogaret to repudiate of 2/3 of French state debt. [13] Germany: 1812

  4. Sri Lankan economic crisis (2019–present) - Wikipedia

    en.wikipedia.org/wiki/Sri_Lankan_economic_crisis...

    The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]

  5. Fitch downgrades Sri Lanka on rising default risk

    www.aol.com/news/fitch-downgrades-sri-lanka...

    Fitch downgraded Sri Lanka's sovereign credit rating to "CCC" on Friday, warning the country's debt levels were set to soar past 100% of GDP and that it was increasingly at risk of default. Sri ...

  6. Sri Lanka Falls Into Default, Sending Warning Across ... - AOL

    www.aol.com/news/sri-lanka-falls-default-sending...

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  7. Sovereign default - Wikipedia

    en.wikipedia.org/wiki/Sovereign_default

    This is not "default" in the usual sense because the debt is honored, albeit with currency of lesser real value. Sometimes governments devalue their currency. This can be done by printing more money to apply toward their own debts, or by ending or altering the convertibility of their currencies into precious metals or foreign currency at fixed ...

  8. Sri Lankan rupee - Wikipedia

    en.wikipedia.org/wiki/Sri_Lankan_rupee

    By April 2022, political upheaval in Sri Lanka made the Sri Lankan rupee the world's "worst performing currency," according to the Financial Times. The currency's exchange rate had plummeted to over Rs. 350/- = US$1 as of 29 April 2022 [update] .

  9. Sri Lanka and the International Monetary Fund - Wikipedia

    en.wikipedia.org/wiki/Sri_Lanka_and_the...

    Sri Lanka has also sought an additional $500 million line of credit from India, and began negotiating a credit line of $1.5 billion. Sri Lankan minister of finance Ali Sabry has stated "We are a neutral country. We are a friend to all." [10] In May 2022, Sri Lanka defaulted on its debt for the first time in the country's history. [12]