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24/11/2024
Sunday
THIS DAY IN HISTORY:
24 November 
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
24 November
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
SRI LANKA: WHY DID DEFAULT TAKE PLACE IN THE COUNTRY?
The Sri Lankan authorities have announced the suspension of all external debt payments. On April 12, 2022, the head of the Ministry of Finance, Mahinda Sirivardena, stated that the freezing of the country's assets is a forced step necessary to restructure the state's existing obligations to creditors. It is known that the program of economic transformation of the country was supported by the IMF.
This was announced after the government had resigned on 5 April. The protests that took place in the country quickly changed the economic demands of citizens to political ones. The protesters demanded the resignation of the brothers Gotabay and Mahinda Rajapaksa, who hold the posts of the country's president and prime minister.
More than 664 people were arrested in the West of the country. The head of state said that on April 3, an attempt to carry out a coup was prevented - this became the basis for the subsequent introduction of emergency measures and the establishment of a curfew.
There is almost no American currency left in the country, which is necessary to pay off the external debt, and the import of energy resources and other goods important for the normal functioning of the economy has been suspended. Neighboring India plans to send about 50 thousand tons of diesel fuel and fuel oil to help Sri Lanka. This, experts believe, will reduce the time of daily power cuts, now reaching up to 10 hours a day.
This was announced after the government had resigned on 5 April. The protests that took place in the country quickly changed the economic demands of citizens to political ones. The protesters demanded the resignation of the brothers Gotabay and Mahinda Rajapaksa, who hold the posts of the country's president and prime minister.
More than 664 people were arrested in the West of the country. The head of state said that on April 3, an attempt to carry out a coup was prevented - this became the basis for the subsequent introduction of emergency measures and the establishment of a curfew.
The main reason of a serious economic crisis, which experts call the most severe since 1948, is the pandemic.
The reduction in tourist flows to the country has led to a reduction in foreign exchange earnings, and with them fuel and food. Last year, Moody's identified Sri Lanka as one of the countries whose victims from the consequences of the coronavirus turned out to be maximum.There is almost no American currency left in the country, which is necessary to pay off the external debt, and the import of energy resources and other goods important for the normal functioning of the economy has been suspended. Neighboring India plans to send about 50 thousand tons of diesel fuel and fuel oil to help Sri Lanka. This, experts believe, will reduce the time of daily power cuts, now reaching up to 10 hours a day.
Inflation in March 2022 reached 18.7%.
This is the highest figure in the last fourteen years (since November 2008). Experts expect that in May it could reach 28% due to rising commodity prices. Sri Lanka's external debt is estimated at $35 billion. The authorities call the current default the last opportunity to prevent further development of the financial situation according to the worst scenario. 13.04.2022
