News for hackers. Stuff that matters.

A comment on Why Isn’t the Whole World Rich?. Parent comment

Re:Why Isn’t the Whole World Rich? by amanaplanacanal on Wednesday November 23, 2022 @12:45PM (#33722254)
I wonder if a lot of those countries would do better to declare bankruptcy and not pay those debts.
[ Parent | on HN ]
Re:Why Isn’t the Whole World Rich? by kodyo on Wednesday November 23, 2022 @05:10PM (#33725162)
If by country you mean the people who live there, yes.

If you mean whatever oligarchy is nominally in charge, well, the bankers can make sure they’re taken care of as long as the interest payments keep rolling in.

[ Parent | on HN ]
Re:Why Isn’t the Whole World Rich? by deterministic on Wednesday November 23, 2022 @06:57PM (#33726093)
Iceland did this? And it worked beautifully.
[ Parent | on HN ]
Re:Why Isn’t the Whole World Rich? by chii on Wednesday November 23, 2022 @08:01PM (#33726607)
and you would have a situation like recently in Sri Lanka where they defaulted on loans, and cannot obtain necessary resources like oil to run their economy.

IMF loans are bandaids to stop the bleeding, but the cure depends on the disease. If the country does not cure the disease, the bandaid will not help after a while.

[ Parent | on HN ]