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Sri Lanka: Five-day bank holiday for domestic debt restructuring

2023-06-29 13:27
There are fears the government's plan could lead to volatility in financial markets.
Sri Lanka: Five-day bank holiday for domestic debt restructuring

Sri Lanka began a five-day bank holiday from Thursday to allow the crisis-hit nation to restructure $42bn (£33.2bn) in domestic debt.

This comes as it secured $700m in support from multinational lender the World Bank.

The country is facing its worst economic crisis since it won independence...