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Sri Lanka on the verge of bankruptcy as inflation rises to record levels: Report

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Sri Lanka on the verge of bankruptcy as inflation rises to record levels: Report

Sri Lanka is facing a deepening financial and humanitarian crisis that could lead to its bankruptcy in 2022 as inflation rises to record levels, a media report said.

Earlier, on August 30 last year, the Sri Lanka government declared a national fiscal emergency after a sharp depreciation of the country’s currency caused food prices to soar.

Suhail Guptil wrote in the Colombo Communiqué that for most of the past decade, Sri Lanka has been facing a double deficit, namely a fiscal deficit and a trade deficit. Since 2014, Sri Lanka external debt level has been on an upward trend, reaching 42.6% of GDP in 2019.

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Guptil explained that the country’s accumulated external debt in 2019 was estimated at USD 33 billion, placing a huge burden on the country’s debt service.

Sri Lanka’s credit rating has since been downgraded to B from C by a number of credit rating agencies including Standard & Poor’s, Moody’s and Fitch, making it difficult to obtain funding through international sovereign bonds (ISBs), Guptil said.

Sri Lanka’s financial crisis was mainly caused by low growth rates (currently 4%) and huge debt service obligations, and the situation is getting worse.

As of November 2021, available foreign exchange reserves were only US$1.6 billion, while over the next 12 months, the Sri Lankan government and private sector will have to repay about US$7.3 billion in domestic and foreign loans, including US$500 million in international loans. Sovereign bonds to be repaid in January 2022, report says

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Complete News Source : Hindustan Times

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Bigg Boss 16: Abdu Rozik Teaches Priyanka Chahar Choudhary a Valuable Life Lesson, Find Out More

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Bigg Boss 16: Abdu Rozik Teaches Priyanka Chahar Choudhary a Valuable Life Lesson, Find Out More

As the contestants become more enmeshed, Bigg Boss 16 is becoming more engaging and exciting. There are new friendships being witnessed on the contentious reality show. The relationship between Abdu, Sajid, and Shiv Thakare is one of the most well-known friendships in the programme.

The show’s cutest contestant, Abdu Rozik, is continuously making sweet gestures toward the other candidates. In the Bigg Boss house, Abdu Rozik exhibits his genuine avatar. He is the only contender on the show who doesn’t brag about anything. He keeps everyone on the show laughing. either the competitor or the audience.

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A significant altercation between Priyanka and Ankit occurs in the Bigg Boss house. Priyanka Chahar is asked by Ankit Gupta to keep quiet about her altercation with Shalin. She is arguing with Shalin Bhanot at the same moment. Ankit Gupta’s remark to Priyanka appears to have affected her.

Ankit explains that he was simply trying to prevent her from dragging out a situation indefinitely. Priyanka is also threatened by Ankit with having her history exposed in front of the camera if she doesn’t act properly around him. After that.

Priyanka becomes enraged and requests that Gori move Priyanka into their room. Sajid Khan advises Ankit Gupta to forgive Priyanka because she is the cutest participant on the show and they have been friends for a long time. Priyanka Chahar Choudhary receives a lecture from Abdu Rozik about life.

Bigg Boss 16: Abdu Rozik Teaches Priyanka Chahar Choudhary a Valuable Life Lesson

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In the latest season of Bigg Boss 16, Abdu Rozik, the popular Tajikistani singer, and Priyanka Chahar Choudhary, the strong-willed actress, have formed an unexpected yet heartwarming bond. Their growing camaraderie has not only been a source of entertainment but also provided some insightful moments that fans have cherished. Recently, Abdu imparted a valuable life lesson to Priyanka that has caught the attention of viewers, highlighting the beauty of their friendship.

Abdu, known for his innocence, childlike charm, and positive outlook on life, has been a calming presence in the Bigg Boss house. Priyanka, on the other hand, has been one of the most vocal contestants in the show.

often caught up in the drama and confrontations. In one particular incident, Abdu Rozik, who has always kept a positive attitude despite the ups and downs of the show, shared his perspective on handling life’s challenges, teaching Priyanka an important lesson in patience and perspective.

During a heart-to-heart conversation between the two, Abdu explained that life is full of ups and downs, but it is crucial to stay true to oneself and not let temporary setbacks define you. He reminded Priyanka that instead of getting worked up over every little thing or engaging in unnecessary arguments, one should focus on maintaining inner peace and moving forward with a positive attitude.

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Priyanka, who is often seen embroiled in heated debates, took a moment to reflect on Abdu’s words. His gentle reminder about not letting negativity take over and focusing on one’s own journey seemed to resonate with her. Abdu’s simple yet profound advice was a reminder that sometimes, in the chaos of life and competition, it’s easy to lose sight of what truly matters—peace, understanding, and self-growth.

As the season progresses, it’s clear that Abdu Rozik’s positive approach and life lessons have Bigg Boss audience. The beautiful friendship between the two continues to evolve, and fans are eagerly watching how this bond will shape their journey on the show.

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