Bloomberg reports that Sri Lanka has to eliminate the risk of becoming a defaulter by repaying $ 1 billion in debt on time.
The report also said that the country’s foreign debt repayments remained unchanged as the Sri Lankan government repaired $ 1 billion worth of bonds due on Tuesday.
However, another $ 500 million in bonds and a $ 1 billion loan are due shortly, the report said.
Minister of State for Finance Ajith Nivard Cabraal said to Bloomberg that the decline in reserves was temporary and would recover soon.
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