{"id":476721,"date":"2023-01-08T12:00:47","date_gmt":"2023-01-08T12:00:47","guid":{"rendered":"https:\/\/omni48.com\/?p=476721"},"modified":"2023-01-18T11:45:05","modified_gmt":"2023-01-18T11:45:05","slug":"hedge-funds-holding-up-vital-debt-relief-for-crisis-hit-sri-lanka-warn-economists","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/hedge-funds-holding-up-vital-debt-relief-for-crisis-hit-sri-lanka-warn-economists","title":{"rendered":"Hedge funds holding up vital debt relief for crisis-hit Sri Lanka, warn economists"},"content":{"rendered":"<p>Sri Lanka defaulted on its $51bn debt last year.Some of the world&#8217;s most powerful hedge funds and other investors are holding up vital help for crisis-hit Sri Lanka by their hardline stance in debt-relief negotiations after the Asian country&#8217;s $51bn (&#163;42bn) default last year, according to 182 economists and development experts from around the world.In a statement released to the Guardian on Sunday, the group said extensive debt cancellation was needed to give the economy a chance of recovery and that Sri Lanka would be a test case of the willingness of the international community to tackle a looming global debt crisis.The group &#8211; including the Indian economist Jayati Ghosh, Thomas Piketty, the author of the bestselling book Capital, and Greece&#8217;s former finance minister Yannis Varoufakis &#8211; said private sector creditors such as investment companies and hedge funds were preventing a deal.&#8220;Debt negotiations in Sri Lanka are now at a crucial stage,&#8221; the statement says. &#8220;All lenders &#8211; bilateral, multilateral,<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some of the world&#8217;s most powerful hedge funds and other investors are holding up vital help for crisis-hit Sri Lanka by their hardline stance in debt-relief negotiations after the Asian<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[22,1],"tags":[],"class_list":["post-476721","post","type-post","status-publish","format-standard","hentry","category-economy","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/476721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=476721"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/476721\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=476721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=476721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=476721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}