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)

USA’s Debt default would be a ‘catastrophic’ event for the entire globe

Global IndexesApr 24, 2023
USA’s Debt default would be a ‘catastrophic’ event for the entire globe

The price of insuring against a US government default rose to a fresh high this week as traders began pricing in their concerns that the world’s biggest economy might not meet its financial obligations. A breach of the US debt ceiling risks sparking a 2008-style economic catastrophe that wipes out millions of jobs and sets America back for generations, Moody’s Analytics warned on Tuesday.

That is its highest level since at least 2008, up from 15 basis points at the start of the year, and far in excess of 2011 levels, when a stand-off in Washington over the US debt ceiling led to the country losing its top-notch triple-A credit rating.

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