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Started by Blumf, June 23, 2022, 04:53:16 PM
QuoteSri Lanka's prime minister says economy has 'completely collapsed'Sri Lanka's debt-laden economy has "collapsed" after months of shortages of food, fuel and electricity, the prime minister told lawmakers in comments that underscored the country's dire situation as it seeks help from international lenders.Ranil Wickremesinghe told parliament the South Asian nation faces "a far more serious situation" than the shortages alone, and he warned of "a possible fall to rock bottom.""Our economy has completely collapsed," he said on Wednesday.
QuoteWickremesinghe said IMF assistance seems to be the country's only option now. Officials from the agency are visiting Sri Lanka to discuss the idea. A staff-level agreement is likely to be reached by the end of July."We have concluded the initial discussions, and we have exchanged ideas on various sectors," Wickremesighe said.Representatives of financial and legal advisers to the government on debt restructuring are also visiting the island, and a team from the US Treasury will arrive next week, he said.
Quote from: Buelligan on June 23, 2022, 04:55:37 PMWeird, isn't it? You know, the country's still there. The houses, crops, people, still real but somehow notional numbers and tokens make all of that void.
Quote from: Buelligan on June 23, 2022, 06:17:15 PMI'm saying that what a bank decides or all the banks decide, isn't the whole story.
Quote from: Dex Sawash on June 23, 2022, 06:22:58 PMDeer ate my tomatoes :(
Quote from: Buelligan on June 23, 2022, 06:17:15 PMYeah, my point is, the government (of anywhere) can say you have nothing. But that doesn't disappear the tomatoes (or whatever) in your garden, it doesn't disappear the roof over you or the bed under it.
Quote from: Mister Six on June 24, 2022, 12:49:35 AMWhat if you don't have tomatoes in your garden, but several fields of grain crops or similar that are not immediately edible but can be processed into food, except you don't have any fuel to run your combined harvester or any way to pay the people who would usually help you bring the harvest in? And nobody would have any money (or food) to exchange for the grains even if they did. What if you're one of those guys who brings in the harvest, but doesn't have a garden, much less tomatoes to go in it?What if your landlord is going to kick you out from that roof over your head because you don't have any money to pay the rent? I admire your utopian vision, but there's a Grand Canyon-sized gulf between there and here, and visions of a reversion to some imagined bucolic past of allotments and local craftsmen that will spring up out of the ground with immediate effect won't get us there.
Quote from: Mister Six on June 24, 2022, 05:17:41 AMI don't disagree, but the abstract concepts are directly linked to systems that are directly linked to physical resources, and saying "Why don't the Sri Lankans just stop pretending money exists?" isn't going to magically teleport imported goods into their territory or redistribute what is already there.It's a fine thought, but in threads like this, which are discussing actual, real world problems, it sounds facile and almost insulting. There was a similar comment in one of the Ukraine threads, along the lines of - let's all just say no to war and turn our tanks into tractors. Which is a laudable idea, but does anyone seriously think Putin is going to join in, or that - in the event of every other country in the world tossing out its weapons - he wouldn't immediately go and take over a swathe of the world?
QuoteLast Sunday, when a new mother began suffering dangerous bleeding at a major Colombo hospital, an urgent call went out to one of its main consultant anaesthetists.The mother needed to be rushed to surgery but the specialist was three kilometres away, stuck in an hours-long line at a petrol station without enough fuel to drive to the hospital."She started looking for tuk-tuks but couldn't find one and even asked the police for help to get to the hospital," Yasuni Manikkage, another doctor at the hospital, told The Sydney Morning Herald and The Age.Fortunately, the anaesthetist eventually was able to get there after a vehicle from the hospital was sent to pick her up. The mother was able to go into emergency surgery and after further treatment in the intensive-care unit, she is now recovering.The incident, however, illustrates just how deeply and alarmingly the tentacles of Sri Lanka's economic crisis extend
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