Sri Lankan president seeks to pause loan payments until 2028

Sri Lankan president seeks to pause loan payments until 2028

Sri Lanka’s President, Ranil Wickremesinghe, has announced his proposal for a loan repayment pause until 2028, aiming to address the country’s debt crisis. The plan involves deferring payments for five years and then gradually repaying debts from 2028 to 2042. Sri Lanka declared bankruptcy in April 2022, suspending repayments on $83 billion in loans during…

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