Crisis-hit Sri Lanka warns of record 8% economic contraction1 min read . Updated: 18 Aug 2022, 02:29 PM IST
The crisis hit island state of Sri Lanka will record a contraction of at least 8% in its economy this year as the nation defaulted on its $51 billion foreign debt in April and is seeking an International Monetary Fund bailout
Sri Lanka's economic meltdown will result in a record contraction of at least 8% this year but the public could soon expect some relief from runaway inflation, the head of the country's central bank said Thursday.
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