FILE PHOTO: People wait in a queue to buy petrol at a fuel station, amid the country's economic crisis in Colombo, Sri Lanka, May 16, 2022. REUTERS/Adnan Abidi
COLOMBO (Reuters) - Sri Lanka is expected to be placed into default by rating agencies on Wednesday after the non-payment of coupons on two of its sovereign bonds, while the energy minister said the country had run out of money to pay for fuel.
An economic crisis unprecedented in the country's history since independence in 1948 has led to a critical shortage of foreign exchange, that saw it miss two coupon payments on sovereign bonds on April 18.
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