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Economy 4 years ago
PREMIUM
Russia slips into default zone as payment deadline expires
Russia has struggled to keep up payments on $40 billion of outstanding bonds since its invasion of Ukraine on Feb. 24, as sweeping sanctions have effectively cut the country off from the global financial system and rendered its assets untouchable to many investors.
Asia & Pacific 4 years ago
Sri Lanka rations fuel as crisis worsens
The state-run Ceylon Petroleum Corporation (CPC), which accounts for two-thirds of the retail fuel market, said it would limit the quantities drivers can buy, and banned pumping into cans altogether to prevent motorists stocking up on petrol or diesel in fear of further rationing.
Asia & Pacific 4 years ago
Sri Lanka announces default on all external debt
The finance ministry said creditors, including foreign governments that had lent to the South Asian nation, were free to capitalise any interest payments due to them from Tuesday afternoon or opt for payback in Sri Lankan rupees.
Business 5 years ago
US still faces possible default wave, asset declines due to pandemic: Fed
The United States may still face a wave of debt defaults and “significant declines” in asset prices because of the coronavirus pandemic and recession, the Federal Reserve warned on Monday, in a stark reminder the economy is far from out of the woods.
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