The COVID-19 outbreak has pushed many developing nations to the brink of a financial crisis. Not only are these countries finding it difficult to secure enough money to keep their economies running, but many are in no position to repay the billions in debt they have already secured from foreign countries and entities. As such, ...
It’s been more than a decade since the last global financial crisis shook the world economy and took us to the brink of chaos. Though the world recovered from the crisis, it seems as if we have a bigger problem on our hands. A recent report by the World Bank, called Global Waves of Debt, ...
While the U.S.-China trade war and Brexit have been hogging international headlines, a quiet storm is brewing in Italy that threatens to disrupt the European economy. The country’s debt is currently sitting at 132 percent of its GDP, worrying several experts that it might trigger another financial crisis in the EU similar to or even ...
As of early January 2019, the total global debt was nearing US$244 trillion, exceeding 300 percent of world GDP by the third quarter of last year. This has made the International Monetary Fund (IMF) issue warnings to the world governments to control their debt levels and create enough buffers to protect themselves against a future ...
In September 2018, Chinese President Xi Jinping declared that his country would invest US$60 billion in several African projects. However, the move was brought under suspicion by economic experts who suggested that the new wave of loans will only entrap African nations into servitude to the Chinese Communist Party (CCP). China’s investments also pose a ...
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