Sri Lanka Economic Crisis: Govt announces default on all $51 billion debt

Colombo: Sri Lanka has run out of foreign exchange and its government on Tuesday announced that it will be defaulting on all its external debt $51 billion as a last resort to prevent further deterioration of its financial position.

Beijing's power loans triggering a debt trap for Islamabad

Islamabad: Pakistan is emerging as the new nation which is struggling to repay Chinese loans extended under the Belt and Road Initiative, media reports said.