Cash-strapped Sri Lanka vowed Thursday to complete its long-delayed foreign debt restructure within the month before a 2025 budget adhering to strict revenue targets set by the International Monetary Fund.
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A general view shows Sri Lanka's capital Colombo amidst smoggy conditions on November 30, 2024. (Photo by Ishara S. KODIKARA / AFP)
2024-12-05 14:57:02
Cash-strapped Sri Lanka vowed Thursday to complete its long-delayed foreign debt restructure within the month before a 2025 budget adhering to strict revenue targets set by the International Monetary Fund.
The island nation defaulted on its $46 billion external debt in April 2022 after running out of foreign exchange to finance even the most essential imports such as food and fuel.
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