Inflation ( CCPI)1.7% (June 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.55%
12M T-Bill Rate10.07%
2Y T-Bond Rate10.55%/ 10.65%
4Y T-Bond Rate11.80% / 11.85%
USD/LKR303/304
Reserves $5.6Bn (June 2024)
Cum. Trade Deficit $2,180 Mn (May 2024 cumulative)
Cum. Fiscal DeficitLKR 361Bn (April 2024)

After Sri Lanka many more to default

InternationalJul 17, 2022
After Sri Lanka many more to default

Global investors used several indicators to measure the looming default risk namely; crashing currencies, 1,000 basis point bond spreads and burned FX reserves. Sri Lanka, Lebanon, Russia, Suriname and Zambia are already in a debt default.

According to Reuters, a record number of developing countries are currently in trouble as many countries are exhibiting economic malaise similar to Sri Lanka. Analysts estimate that $400 billion of debt is at risk using 1,000 basis point bond spreads as the pain threshold.

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