COLOMBO -- Sri Lanka's top economists and business leaders are urging President Gotabaya Rajapaksa's government to default on a debt repayment next week and to use the nation's foreign currency reserves to buy fuel, food, medicine and other essentials.
Ajith Nivard Cabraal, governor of the Central Bank of Sri Lanka, on Jan. 5 tweeted that the CBSL has allocated $500 million for an International Sovereign Bond maturing on Tuesday. Since the announcement, many experts have come out against the allocation.
