Sri Lanka has, for the first time in its history, defaulted on its debts, as citizens and officials reckon with an "economic and political crisis" brought on by COVID-19 and the war in Ukraine, The Guardian reports Thursday.
The governor of Sri Lanka's central bank said the bank was now in a "preemptive default" after the deadline passed for making $78 million worth of payments to international creditors, The Guardian notes.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Has the Taliban banned women from speaking?Today's Big Question 'Rambling' message about 'bizarre' restriction joins series of recent decrees that amount to silencing of Afghanistan's women
-
Cuba's energy crisisThe Explainer Already beset by a host of issues, the island nation is struggling with nationwide blackouts
-
Putin's fixation with shamansUnder the Radar Secretive Russian leader, said to be fascinated with occult and pagan rituals, allegedly asked for blessing over nuclear weapons
-
Chimpanzees are dying of human diseasesUnder the radar Great apes are vulnerable to human pathogens thanks to genetic similarity, increased contact and no immunity
-
Deaths of Jesse Baird and Luke Davies hang over Sydney's Mardi GrasThe Explainer Police officer, the former partner of TV presenter victim, charged with two counts of murder after turning himself in
-
Quiz of The Week: 24 February - 1 MarchPuzzles and Quizzes Have you been paying attention to The Week's news?
-
Will mounting discontent affect Iran election?Today's Big Question Low turnout is expected in poll seen as crucial test for Tehran's leadership
-
Sweden clears final NATO hurdle with Hungary voteSpeed Read Hungary's parliament overwhelmingly approved Sweden's accession to NATO
