Sri Lanka officially defaults for first time in its history

Sri Lanka has officially defaulted on its international debt for the first time in its history amidst warnings of accelerating inflation, as the island’s economic crisis continues.
Colombo had a 30-day grace period to make a payment of approximately US$78m, but that expired on Wednesday, as tens of thousands of Tamils across the North-East marked Tamil Genocide Day. The next day, Sri Lanka was officially into what some analysts called a “hard” default.





