The findings published by the Bill & Melinda Gates Foundation-backed and Paris-based think tank assume interest rates climbing by 400 basis points from levels in 2019 and a 10% decline in currencies against the dollar. It assessed conditions in 113 countries, with China and Russia among nations excluded because data weren’t available.
“Current costs of funding make debt service hard to sustain, with an expected peak in 2024-25,” according to the authors of a paper based on the model titled. “If such conditions were to hold, a significant liquidity crisis would quickly turn into a widespread solvency crisis.” Developing nations, with weaker sources of revenue, have borne the brunt of surging interest rates and increased borrowing, a result of shocks including the Covid-19 pandemic and Russia’s invasion of Ukraine, which has driven up world food and energy prices. A greater proportion of poorer-country debt is now owed to commercial lenders, which offer shorter maturities, and capital markets have largely closed to many governments.
Total debt stock for those nations is expected to surge to $4.3 trillion in 2026 from $2.9 trillion last year and $2 trillion in 2016, said Charles Albinet and Martin Kessler, the authors of the paper.
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Источник: ReutersAfrica - 🏆 31. / 53 Прочитайте больше »
Источник: BusinessTechSA - 🏆 24. / 61 Прочитайте больше »
Joburg city finance employees evicted from office after 'rent not paid'City of Johannesburg group finance employees were evicted from their offices on Wednesday afternoon due to the city's alleged failure to pay rent. Haai khona madoda,haai khona!Pay up! Gotta love the irony 🤣🤣🤣🤣 Is this what they call the DA difference?
Источник: TimesLIVE - 🏆 28. / 59 Прочитайте больше »