Sri Lanka says no to IMF, seeks new China loan

[Stranagor]

Austerity measures. For a country that has been accumulating so much debt in white elephant projects, it seems the right approach. To be honest, all those development did not have anything economically to support. Some pain now is required to fix the situation.

Let them to decide. Maybe they do not want to end up like India. Of course, the best is fiscal surplus-driven investment. But, even India does not enjoy that. What remains is debt-driven growth.

 

[KrimesKaster]

Let them to decide. Maybe they do not want to end up like India. Of course, the best is fiscal surplus-driven investment. But, even India does not enjoy that. What remains is debt-driven growth.

When you have to take loans to pay back old loans, that is the definition of being broken. India is far from that. If they have to consider the option of going to IMF for bailout, they have messed it up. If they have to force their citizens to stop taking forex out, they have messed it up. If their currency is being traded in black market at about 20% loss, they are keeping their currency proped up artifically and have messed it up. If they have to FORCE their citizens to liquidate any foreign currency holdings, they are in desperate situation.

Sure as hell India does not have to do anything like this. Its forex reserves are pretty healthy.

 

[Stranagor]

When you have to take loans to pay back old loans, that is the definition of being broken. India is far from that. If they have to consider the option of going to IMF for bailout, they have messed it up. If they have to force their citizens to stop taking forex out, they have messed it up. If their currency is being traded in black market at about 20% loss, they are keeping their currency proped up artifically and have messed it up. If they have to FORCE their citizens to liquidate any foreign currency holdings, they are in desperate situation.

Sure as hell India does not have to do anything like this. Its forex reserves are pretty healthy.

SL can go to Japan, as well. It holds equal amount of SL debt.

 

[KrimesKaster]

SL can go to Japan, as well. It holds equal amount of SL debt.

It can go to anyone but none of that will help till it keeps on messing up the basics: More expansive projects with no plan of recovering the cost. Debt is not a donation.

 

[Stranagor]

It can go to anyone but none of that will help till it keeps on messing up the basics: More expansive projects with no plan of recovering the cost. Debt is not a donation.

But Japan already helped as much as CN did by holding 10 of its debt. JP can and will do more.

You are bleeding because you see SL as a backyard and somehow CN messed your pan dreams up.

 

[KrimesKaster]

You are bleeding because you see SL as a backyard and somehow CN messed it up.

Bleeding? Thats what Sri Lanka's coffers are doing. Anyways, I do not think SL is in Pacific ocean or Atlantic ocean. Do you?

 

[Stranagor]

Bleeding? Thats what Sri Lanka's coffers are doing. Anyways, I do not think SL is in Pacific ocean or Atlantic ocean. Do you?

They are doing what they think is the best. It is not the first debtor country. Also, its tourism driven economy took a hit from 2020 onwards. Stuff happens.

Indian Ocean does not make it your backyard, as CN has shown.

Your backyard is a free dive into the Ganges, which you are about to do in herds.

 

[RoadRunner401]

When you have to take loans to pay back old loans, that is the definition of being broken. India is far from that. If they have to consider the option of going to IMF for bailout, they have messed it up. If they have to force their citizens to stop taking forex out, they have messed it up. If their currency is being traded in black market at about 20% loss, they are keeping their currency proped up artifically and have messed it up. If they have to FORCE their citizens to liquidate any foreign currency holdings, they are in desperate situation.

Sure as hell India does not have to do anything like this. Its forex reserves are pretty healthy.

1990 India was on the brink of bankruptcy, Americans jump in and provide $40 billion dollars worth of liquidity to the Indian financial markets via GE Finance and today you are sitting here bragging that somehow the Indian government managed the financial crisis with their prudent policies? even today India receiving financial aid from Japan( The grant of 4.01 billion yen is Japan's first ever official development assistance (ODA) to a project in the Andaman and Nicobar islands.) and other Western countries. So, in future please stop turning topics that have nothing to do with India into an Indian focused rant.

 

[KrimesKaster]

They are doing what they think is the best.

Every drug addict says that.

It is not the first debtor country.

Sure! There are many basket case countries.

Also, its tourism driven economy took a hit from 2020 onwards. Stuff happens.

This "Stuff" is happening since 2006 or so.

Indian Ocean does not make it your backyard, as CN has shown.

LOL! CN's own backyard is not secure and it is showing the world. Yeah totally believable.

Your backyard is a free dive into the Ganges, which you are about to do in droves.

I dive in Berg Lake, if you must know. Quite nice! Visit it sometimes if they allow you and if you can afford it.

1990 India was on the brink of bankruptcy, Americans jump in and provide $40 billion dollars worth of liquidity to the Indian financial markets via GE Finance and today you are sitting here bragging that somehow the Indian government managed the financial crisis with their prudent policies? Or how they averted bankruptcy only by receiving fiancial aid from Japan and other Western countries. So, in future please stop turning topics that have nothing to do with India into an Indian focused rant.

Tell that to Indians dude!

 

[Stranagor]

Every drug addict says that.


Sure! There are many basket case countries.


This "Stuff" is happening since 2006 or so.


LOL! CN's own backyard is not secure and it is showing the world. Yeah totally believable.


I dive in Berg Lake, if you must know. Quite nice! Visit it sometimes if they allow you and if you can afford it.

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Tell that to Indians dude!

Again, put it somewhere in the low IQ department, SL is not your backyard.

 

[KrimesKaster]

Again, put it somewhere in the low IQ department, SL is not your backyard.

Thanks, I am a member of Mensa so I am doing fine. Cann't say same about you.

 

[Stranagor]

Thanks, I am a member of Mensa so I am doing fine. Cann't say same about you.

Most Indians belong to some noble places or countries which they think help elevate their status here.

 

[KrimesKaster]

Most Indians belong to some noble places or countries which they think help elevate their status here.

Don't know. Either is better than being a Chinese.

 

[Stranagor]

Don't know. Either is better than being a Chinese.

Just like a proud Indian would say.

 

[KrimesKaster]

Just like a proud Indian would say.

Actually any human will say that.