Sri Lanka's new president faces uphill battle to revive debt-ridden economy

Q: How long will it take to read this news story?

The story "Sri Lanka&#039;s new president faces uphill battle to revive debt-ridden economy" has 893 words across 43 sentences, which will take approximately 4 - 8 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Sri Lanka&#039;s new president faces uphill battle to revive debt-ridden economy" was covered 5 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 268 news stories per day. It's most recent story was published 3 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Negative, indicating that people regard this as "bad news".

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22858474</li><li>URL: https://beamstart.com/news/sri-lankas-new-president-faces-17279352929572</li></ul>

Business Standard Logo Business Standard 5h ago

Sri Lanka's new president faces uphill battle to revive debt-ridden economy - Business Standard

Quick Summary:

During the presidential campaign, the NPP acknowledged the crucial role the IMF would play in restructuring Sri Lanka’s external debt.

In the longer term, solutions will need to include forgiveness of some of the debt that is owed, as well as fiscal targets that are achievable and also reduce the risk of further defaults.

These include reducing its public debt to 95 per cent of GDP by 2032, and spending 4.5 per cent of GDP annually on servicing its external debt once the IMF programme is finished.