Will Sri Lanka officially declare about ‘bankruptcy’ ?

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Financial sector information, it is reported that Sri Lanka has not been able to repay loan due to China. Sri Lanka owes $ 53.596 million to China Development Bank, $ 17 million to China Exim Bank

The Treasury of Sri Lanka has informed China that these loan installments cannot be repaid. Chinese bank has informed Sri Lanka that if the loan installment is not repaid, the full amount will be paid within three days as per the agreement

If the installment cannot be paid, how can the full amount be paid?

According to the Financial Information, Sri Lanka will be officially declared bankrupt .

The situation will change if the US $ 1 billion loan from India is received