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isn't 8 billion dollars like 4 miles of NYC subway? [0] in the grand scheme of bailouts and liquidity injections it doesn't sound all that critical to me. [0]
by jazzyjackson 2y ago
isn't 8 billion dollars like 4 miles of NYC subway? [0] in the grand scheme of bailouts and liquidity injections it doesn't sound all that critical to me.
[0] https://www.bloomberg.com/news/articles/2023-02-23/in-nyc-subway-a-case-study-in-runaway-transit-construction-costs https://www.bloomberg.com/news/articles/2023-02-23/in-nyc-su...
- akira2501 2y agoIsn't the GDP of NYC alone 3x that of the entire country of Egypt? Yes. The better question is what fraction of their GDP is this loan? Well, 1.6%. It's notable because while taking IMF loans has been a revolving door policy with Egypt this is the largest yet and the size was increased once already. It's being billed as an emergency loan because it is. Egypts debt load has tripled over the past year or two and they're stuck at a 10% deficit that's slowly crippling the country.
- jazzyjackson 2y agoI had some sense there would be a difference in GDP there, I appreciate the figure. I forget that deficits are different when you owe the money to someone other than yourself.