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Economy

Sri Lanka economists tell government to default on bond, buy food

$500m should be redirected to pay for fuel, medicine and other essentials, experts say

Sri Lankan rupee banknotes sit in a bucket at a fruit stall in Colombo. The country is running out of imported food, fuel, medicine and a key ingredient of milk tea.   © Reuters

COLOMBO -- Sri Lanka's top economists and business leaders are urging President Gotabaya Rajapaksa's government to default on a debt repayment next week and to use the nation's foreign currency reserves to buy fuel, food, medicine and other essentials.

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