As Sri Lanka Recovers, Warnings Raised Over the Debt of the Maldives
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This week, Sri Lanka secured a deal with its bilateral creditors like India and China. Under the new terms, Colombo will have until 2043 to repay loans worth $10 billion on concessional terms. Lankan President Ranil Wickremesinghe said: "This agreement grants significant debt relief, allowing Sri Lanka to allocate funds to essential public services & secure concessional financing for development needs." Sri Lanka seems to be recovering from its economic crisis. But warning signs are flashing for the Maldives. Ratings agency Fitch has downgraded the debt issued by the Maldives. Watch this full story for more.
