‘We are going to die’: Sri Lanka warns of food shortages

Sri Lanka’s prime minister has warned of a food shortage as the island nation battles a devastating economic crisis and vowed the government will buy enough fertiliser for the next planting season to boost productivity. A decision in April last year by President Gotabaya Rajapaksa to ban all chemical fertilisers drastically cut yields and although …

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Sri Lanka falls into default for the first time ever

Policy makers had flagged to creditors that the nation wouldn’t be able to make payments until the debt is restructured, and is therefore in pre-emptive default, central bank Governor Nandalal Weerasinghe said at a briefing Thursday. The coupon payments, originally due April 18, were worth $78 million combined on notes maturing 2023 and 2028, with …

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