Sri Lanka bankruptcy - the canary in the coal mine?

Sri Lanka has recently petitioned for bankruptcy. There are a few reasons it's come to this, but Business Insider provides a good explanation:

If you are waiting for the Biblical apocalypse, we now have pestilence/plague, war and famine all visible - that's three of the four horsemen of the apocaplypse. Could it get that bad?  Or worse?   Maybe, maybe not.  But the thing is, Sri Lanka is not alone, they are simply the first nation to hit the wall. They are the canary in the coal mine, and others may soon follow:

No pun intended, the Sri Lankan crisis is food for thought.