The Next Wave Is Not a Covid-19 Wave: Debt Sustainability in Developing Countries (Part 1)
I would like tentatively to share the insights and commentary by Mr. Daniel F. Runde, the senior vice president, director of the Project on Prosperity and Development and holds the William A. Schreyer Chair in Global Analysis at the Center for Strategic and International Studies (CSIS) in Washington, D.C, Ms. Romina Bandura, a senior fellow with the CSIS Project on Prosperity and Development, and Mr. Frank Kelly, a non-resident senior associate with the CSIS Americas program.
Global indebtedness has soared to unprecedented levels. The fiscal outlook for many low- to middle-income countries remains brittle, with the prospect of interest rate hikes in advanced economies, the economic impact of the Covid-19 pandemic, and geopolitical events such as Russia’s war on Ukraine further complicating the global economic scenario. This underlying "debt tsunami" risks fueling the next global financial crisis if left unchartered.
To be continued in Part 2.
