Sri Lanka avoided bankruptcy, but the whole country is currently in a state of starvation

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mso-bidi-language:GU'>New Delhi :GU'>Sri Lanka has GU'>avoided bankruptcy by paying 50 500 million in international sovereign bonds (ISBs) ,GU'>but the entire country is currently facing a state of starvation. Sri Lanka's central bank said the foreign exchange crisis and debt concerns remained.

mso-bidi-language:GU'>India mso-bidi-language:GU'>savedmso-bidi-language:GU'>Sri Lanka from mso-bidi-language:GU'>bankruptcy by giving it a ની 900 million loan. Central Bank chief Ajit Cabral said Sri Lanka had paid 50 500 million in sovereign bonds maturing on January 18 .

mso-bidi-language:GU'>International organizations have questioned whether Sri Lanka mso-bidi-language:GU'>will be able to repay 1.5 1.5 billion in sovereign bonds , including 50 500 millionmso-bidi-language:GU'>maturing on Tuesday mso-bidi-language:GU'>. The bond, issued in 2012 , has been settled. Some business circles , economic analysts and opposition politicians have called for the payment to be postponed in view of the serious foreign exchange crisis.

mso-bidi-language:GU'>He was of the view that foreign exchange reserves should be used for import of essential commodities. The depletion of foreign exchange reserves has created a shortage of foodgrains and essential commodities.

mso-bidi-language:GU'>Sri Lankan President Gotabhaya Rajapaksa acknowledged that the crisis of foreign exchange against the country was the biggest challenge to its economic management. He lashed out at previous governments for the current government's economic failure in parliament, saying more than છ 6 billion would have to be paid in the next two years. All these loans were taken by the previous governments from time to time.

mso-bidi-language:GU'>Sri Lanka's tourism-based economy has collapsed due to the corona virus. Its economy fell 3.6 percent as tourism revenue declined. Sri Lanka has been facing two types of losses over the last decade. One is fiscal deficit and the other is trade deficit. Foreign debt to Sri Lanka has been rising since 2014. In 2019, it reached 42.6 percent of GDP. Sri Lanka had a debt of 33 33 billion in 2019. However, the biggest downside was that the American credit rating agency Fitch was downgrading it. However, despite the debt, Sri Lanka has refused to seek the help of the IMF.

mso-bidi-language:GU'>China owes Sri Lanka ચાર 4 billion. It has also borrowed from Iran and Qatar. Bangladesh has lent it. Even so, owning one is still beyond the reach of the average person.