Sri Lanka raises rates by 700 basis points to fight crisis
Sri Lankan president Gotabaya Rajapaksa. (Photo by Tharaka Basnayaka/NurPhoto via Getty Images) Sri Lanka’s central bank raised borrowing costs by 700 basis points amid economic and political turmoil that has engulfed the nation and left President Gotabaya Rajapaksa with a minority in parliament. The Central Bank of Sri Lanka increased the standing lending facility rate […]
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