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Some context: https://amp.cnn.com/cnn/2022/06/26/asia/sri-lanka-fuel-supplies-struggles-intl/index.html https://amp.cnn.com/cnn/2022/06/26/asia/sri-lanka-fuel-s
by ricardobeat 4y ago
Some context: https://amp.cnn.com/cnn/2022/06/26/asia/sri-lanka-fuel-supplies-struggles-intl/index.html https://amp.cnn.com/cnn/2022/06/26/asia/sri-lanka-fuel-suppl...
The country is already $700M in debt, has no cash reserves to pay for imports, credit by national banks being refused.
- 015a 4y agoI think its interesting, and maybe valuable, to see that actual number. From another front page post today: its roughly the same amount of debt Voyager issued to Three Arrow Capital, who just defaulted. That's kind of the scale we're talking about, and the context that's necessary when the top comment on this page is someone linking an article titled "the end of the world is just beginning"; that yes, it sucks for Sri Lanka, and yes, there are some serious global issues right now that we need to continue to work toward remediating, but also: its very possible most people reading this comment had no idea what I was talking about when I said "three arrow capital and voyager". The scale between a million dollar problem and a global problem is incomprehensible, and that scale is important to consider before jumping straight to doom and gloom. It does suck for Sri Lanka. But; we can't solve every problem, and thus worrying about them wastes valuable time and energy that is better spent solving our problems. Secure your oxygen mask before helping others. Similarly, I think its negligent and borderline misinformation that the title of this post doesn't include the location.