This is a monthly bond payment to foreign investors. While 148M is nothing to sneeze at, 148M x 12 payments a year x 7 or so years left on the bonds is astronomical.

Last month they sold off all their non business-critical assets (like two corporate jets) to satisfy their debt.

And this doesn't include what they owe to Chinese bond holders or loans to Chinese banks. This is the contagion- these bonds are held by western investment firms and used as the underpinnings for pensions, ETFs and funds in retirement accounts, and collateral used to borrow against from western banks.