Sri Lanka is on the Brink of Default, Say Analysts

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What happens when a country's foreign currency debt repayments go way up, and its foreign currency reserves go way down?

Unfortunately, it's not a trick question: that country ends up staring in the face of defaulting on its debt. On Tuesday, several analysts told the Financial Times they think Sri Lanka -- which is mired in bills to pay -- is on the brink.

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Source Fool.com