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Sri Lanka not on verge of sovereign default, says central bank -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – People pass the entrance to the Sri Lanka Central Bank, Colombo (Sri Lanka), March 24, 2017. REUTERS/Dinuka Liyanawatte

COLOMBO (Reuters – Sri Lanka’s central banking said on Wednesday that assertions of a country on the edge of a sovereign default are “totally unsubstantiated”.

Sri Lanka faces its most severe financial crisis since decades. According to Central Bank of Sri Lanka data, foreign currency reserves fell to $2.36Billion.

The central bank released a statement on Wednesday saying that “the Government and CBSL have committed to honor all future debt obligations.”

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