Sri Lanka to default today Interest payment grace period expires | Reuters

On May 18, Sri Lanka is expected to be sentenced to default by a rating agency on the same day that the grace period for interest payments on government bonds ends. The photo shows people lining up at a gas station in Colombo on the 16th (2022 Reuters / Adnan Abidi)

[Colombo 18th Reuters]–Sri Lanka is expected to be sentenced to default (default) by rating agencies on the 18th when the grace period for interest payments on government bonds ends.

With regard to the 2023 maturity bond and the 28-year maturity bond, interest payments could not be made by the deadline of April 18, and the grace period was 30 days.

Rating agency S & P has already downgraded its government bonds to “default,” saying that foreign currency-denominated bond issuer ratings could also be “D” if payments are not made during the grace period.

Power and Energy Minister Wijesekra told Congress that a petrol-laden ship arrived at the port of Colombo on March 28, but the government couldn’t afford it because it didn’t have dollars.

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