 "Sri Lanka")
Sri Lanka fell into default for the first time in its history as the government struggles to halt an economic meltdown that prompted mass protests and a political crisis.
Policy makers had flagged to creditors that the nation wouldn’t be able to make payments until the debt is restructured, and is therefore in pre-emptive default, central bank Governor Nandalal Weerasinghe said at a briefing Thursday. The coupon payments, originally due April 18, were worth $78 million combined on notes maturing 2023 and 2028, with a 30-day grace period that expired on Wednesday.
Sri Lanka Missed $78M Bond Coupon, $105M China Payment April
