https://www.bloomberg.com/news/arti...fault-risk-spotlights-sri-lanka-debt-concerns
Sri Lanka’s risk premium for a default jumped, reflecting concern that the pandemic is damaging the nation’s ability to fill its foreign-exchange coffers ahead of at least $2.5 billion in dollar debt due in the next 12 months.
The nation’s five-year credit default swaps rose to 1,553 basis points on Monday, the highest since March 1. A separate gauge of one-year default probability was at 27.9%, the steepest in Asia, up from around 13% over six months ago, according to a Bloomberg model where a reading above 1.5% signifies high risk of failure to pay.
https://www.nation.lk/online/sri-lanka-will-be-bankrupt-by-january-harsha-151580.html
Says $ 1.4 b outflows expected in Dec., Jan.Negative $ 437 million currency reserves by end Jan.$ 4.8 billion due in Feb.-Oct. 2022Negative $ 4.7 billion currency reserves by Oct.
BY Shenal Fernando
Sri Lanka will be bankrupt by January 2022 as the country’s foreign currency reserves are insufficient to fund the foreign currency-denominated debt service repayments over the next two months, Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva claimed.
Sri Lanka’s risk premium for a default jumped, reflecting concern that the pandemic is damaging the nation’s ability to fill its foreign-exchange coffers ahead of at least $2.5 billion in dollar debt due in the next 12 months.
The nation’s five-year credit default swaps rose to 1,553 basis points on Monday, the highest since March 1. A separate gauge of one-year default probability was at 27.9%, the steepest in Asia, up from around 13% over six months ago, according to a Bloomberg model where a reading above 1.5% signifies high risk of failure to pay.
Sri Lanka will be bankrupt by January: Harsha
https://www.nation.lk/online/sri-lanka-will-be-bankrupt-by-january-harsha-151580.html
Says $ 1.4 b outflows expected in Dec., Jan.Negative $ 437 million currency reserves by end Jan.$ 4.8 billion due in Feb.-Oct. 2022Negative $ 4.7 billion currency reserves by Oct.
BY Shenal Fernando
Sri Lanka will be bankrupt by January 2022 as the country’s foreign currency reserves are insufficient to fund the foreign currency-denominated debt service repayments over the next two months, Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva claimed.
