Sri Lanka has reached a debt restructuring agreement with its sovereign bondholders, providing relief to the cash-strapped nation. The government obtained three tranches of $360 million each under the Extended Fund Facility and completed consultations with the IMF and Official Creditor Committee, signaling progress in economic reform efforts. The agreement comes amid a change in government leadership and a push to renegotiate IMF conditions for debt relief.
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Why AMD Stock Plummeted Today
Advanced Micro Devices (AMD -7.42%) experienced a significant stock price decline of 7.4% amid broader market downturns, hitting a low of 10.5% during the session. The drop was influenced by AMD's announcement of an effective ban on sales of its MI308X processor to China, leading to an anticipated $800 million write-down, alongside rising costs due to TSMC's planned 30% price increase on 4nm chips. Additionally, escalating U.S.-China trade tensions and cautious remarks from Federal Reserve...
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