BBC: Sri Lanka defaults on debt for first time in its history
Sri Lanka has defaulted on its debt for the first time in its history as the country struggles with its worst financial crisis in more than 70 years.
It comes after a 30 day grace period to repay $78m (£63m) of unpaid debt interest payments expired on Wednesday.
The governor of Sri Lanka's central bank said the country was now in a "pre-emptive default".
Defaults happen when governments are unable to meet some or all of their debt payments to creditors.
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WNU Editor: Sri Lanka is not alone. Other countries in talks with the IMF and are near default are Egypt, Tunisia and Pakistan.
Sri Lanka Defaults On Its Foreign Debts
Sri Lanka Falls Into Default For The First Time Ever -- Times of India/Bloomberg
Sri Lanka defaults on debts for first time -- The Guardian
Sri Lanka slips into default, central bank head agrees to stay on -- Al Jazeera
Sri Lanka Falls Into Default, Sending Warning Across Emerging World -- Investing
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