Discuss Forum
1. Which nation defaulted on its sovereign debt for the first time in its history in 2023?
- A. Sri Lanka
- B. Sri Lanka
- C. Sri Lanka
- D. Sri Lanka
Answer: Option B
Explanation:
In 2023, Ghana defaulted on its sovereign debt for the first time in its history. This occurred alongside other nations like Argentina, Liberia, Sri Lanka, and Suriname, which also defaulted on local currency debt. Specifically, Sri Lanka defaulted on its debt in mid-April of 2022, marking its first default since gaining independence in 1948.
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