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A comment on Sri Lanka is having a textbook currency crisis, triggered by policy mistakes. Parent comment

Re:Sri Lanka is having a textbook currency crisis, triggered... by afterburner on Wednesday July 13, 2022 @01:17AM (#32079241)
They wanted to cut taxes. To cut taxes, they needed to cut costs. Not paying for fertilizer would be one way. But of course it would destroy the economy.
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Re:Sri Lanka is having a textbook currency crisis, triggered... by johntb86 on Wednesday July 13, 2022 @02:07AM (#32079480)
In most countries I expect the private sector to pay for fertilizer. In Sri Lanka, due to the currency peg the government was paying for fertilizer. It seems that they chose the wrong solution to that problem.
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Re:Sri Lanka is having a textbook currency crisis, triggered... by modo_mario on Wednesday July 13, 2022 @04:09AM (#32080141)
Cut taxes? Weren't they more worried about their foreign currency reserves that went to these fertilisers?
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