It is being said, that we always have collaterals like airports for their guarantee. The government should be responsible for providing necessary public services such as running courts, police stations, and air traffic control, but it is not necessary for the government to own and operate businesses in industries like oil and gas, transportation, and ports. Even if the lenders part take the stakes on defaults, it does not matter. Our airports already even earning us much.
I will cite the example of Sri Lanka, where people took things into their hands after huge inflation as they declared bankruptcy. Later on, Armed forces were deployed to take matters into their hands. Sri Lanka has faced economic challenges in the past, including a balance of payments crisis in 2018. This crisis was triggered by a number of factors, including high levels of debt, a large fiscal deficit, and a lack of foreign exchange reserves.
