Young Minds - May 20, 2022Add to Favorites

Young Minds - May 20, 2022Add to Favorites

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Sri Lanka falls into default for first time in its history
Sri Lanka has fallen into default for the first time in its history as the government struggles to halt an economic meltdown.Sri Lanka has been mired in turmoil amid surging inflation -- a plummeting currency and an economic crisis that has left the country short of the hard currency it needs to import food and fuel. Public anger has boiled over into violent protests and led the government to announce last month it would halt payments on its $12.6 billion pile of foreign debt to preserve cash for essential goods. This crisis marks the nation’s first sovereign debt default since it gained independence from Britain in 1948. Sri Lanka is in talks with the International Monetary Fund for a bailout and needs to negotiate a debt restructuring with creditors. The country has previously said it needs between $3 billion and $4 billion this year to pull itself out of crisis

Young Minds Newspaper Description:

EditorYoung Mind Newspapers Pvt Ltd

CategoríaNewspaper

IdiomaEnglish

FrecuenciaWeekly

Young Minds is the largest selling newspaper for youngsters in India.

Our endeavour is to prepare our youth for a global tomorrow where their social friends, their professional colleagues, and their personal interests will not be locked within a single nation's boundaries.

Young Minds actively organizes multi dimensional events and courses in both academic and non academic realms, from India and abroad, in alignment with its spirit to make our youngsters true global citizens.

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