For Sri Lanka in South Asia, where the economy is in crisis, the major rating agency S & P Global Ratings has determined that foreign currency-denominated government bonds have partially defaulted.
On the 25th, major rating agency "S & P Global Ratings" downgraded the credit rating of foreign currency-denominated government bonds issued by Sri Lanka, and confirmed that it had fallen into partial default = default.
Rating agencies say the Sri Lankan government did not pay interest on its external debt, which was due on the 18th of this month.
In Sri Lanka, the economy is in a crisis situation such as a sharp decrease in foreign tourists due to the corona disaster and a shortage of foreign currency, which has delayed energy imports, and the government will temporarily suspend the repayment of external debt on the 12th of this month. I was announcing.
According to the central bank, the balance of Sri Lanka's external debt has risen to 50.7 billion dollars at the end of last year, or about 6.5 trillion yen in Japanese yen.
Sri Lanka is in talks asking the IMF = International Monetary Fund for financial support, but the rating agency says, "The talks with the IMF are in the early stages, and it will take time to restructure Sri Lanka's debt." It is more likely that you will be in a more difficult situation.