In this episode of The Weekly Tradecast, we’re talking about the global debt crisis with economist Penelope Hawkins, a senior economic affairs officer in UNCTAD’s debt and development finance branch.
Many developing countries were already struggling to stay afloat after taking on more debt during the pandemic.
Now, with the war in Ukraine, the economic waters are more turbulent.
Interest rates are rising and the burden of borrowing is even heavier.
When the costs get too severe, governments must divert spending from health, education and other public services essential for development.
Will they get a lifeline to keep them from drowning in debt? Listen to this episode of The Weekly Tradecast to find out.