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The International Monetary Fund has urged crisis-hit Sri Lanka to decide on debt restructuring, including with China, by October this year in order to obtain the applied bailout fund of USD 2.9 bn from the IMF, Daily Mirror reported. ....
Income on servicing debt, and in 2022 when this crisis hit, 75% or more was going to servicing debt so that is how ghana fell from grace. and associated terms of this latest bailout from the imf, there are some demands for reforms, what will they look like? one is infrastructure. the country has to be put on the path to sustainability so that means we should be spending less than 20% of government income on servicing debt. they need to go to creditors and say i can t pay you what i used to pay you. it has done some of that, about 40% of domestic debt has now been restructured. that is where the challenge lies because they cannot take the gutsy government is proposing. i wanted to ask you that, ....
Sudden borrow from international capital markets. it also discovered oil in 2007. combining those revenues meant investment in large infrastructure projects which then transform the fortunes of the country, so that is how ghana became a rising star. unfortunately we borrowed too much until eventually we had to ask the imf for a bailout. that allowed it to go back to the capital markets and borrow even more so around 2019 it was starting to spend more than 60% of all its government income on servicing debt, and in 2022 when this crisis hit, 75% or more was going to servicing debt so that is how ghana fell from grace. debt so that is how ghana fell from race. debt so that is how ghana fell from race, ., debt so that is how ghana fell from race. ~ , debt so that is how ghana fell from race. ., , ., debt so that is how ghana fell from race. ~ h, , grace. and associated terms of this latest bailout grace. and associated terms of this latest bailout from grace. and associated terms ....
everything is a bailout when all heck breaks out. you know what it was sh the central bank coming in and telling them you are taken care of. where does the central bank get their money? oh, they either print it which is more debt, or the debt on the taxpayer. so bailouts are here to stay. end more so, he says as we get closer to the presidential election, you remember that back then. one of the key differences between now and then. the 2008 crisis hit right before the vote. 2024 race is just getting started. if the government does come in and seize first republic, if it fails, is that the end of the banking turmoil or like 2008 does it spread ultimately, sandra, have a greater impact on all of us. one positive, it s not spreading today to the rest of the market. the rest of the market is up even with first republic down again. sandra: brings back some of those memories for sure. ....