Debt of developing countries

The debt of developing countries refers to the external debt incurred by governments of developing countries, generally in quantities beyond the governments' ability to repay. "Unpayable debt" is external debt with interest that exceeds what the country's politicians think they can collect from taxpayers, based on the nation's gross domestic product, thus preventing it from ever being repaid. The causes of debt are a result of many factors.

Some of the current levels of debt were amassed following the 1973 oil crisis. Increases in oil prices forced many poorer nations' governments to borrow heavily to purchase politically essential supplies. At the same time, OPEC funds deposited in western banks provided a ready source of funds for loans. While a proportion of borrowed funds went towards infrastructure and economic development financed by central governments, a proportion was lost to corruption and about one-fifth was spent on arms.

Debt abolition

Latest News for: World debt

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The way out for a world economy hooked on debt? More debt

The Los Angeles Times 06 Dec 2019
A decade of easy money has left the world with a record $250 trillion of government, corporate and household debt ... Rock-bottom interest rates in the years since has kept the burden manageable for most, allowing the debt mountain to keep growing ... yet more debt ... But the needle seems to be shifting on how much debt an economy can safely carry....
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Argentine debt restructuring expert to be named economy minister -source

Canada Dot Com 06 Dec 2019
BUENOS AIRESArgentina’s in-coming Peronist government will name Columbia University economist Martin Guzman as economy minister as it grapples with high inflation and a looming debt restructuring, a source with direct knowledge of the situation told Reuters on Friday ... Argentina is one of the world’s biggest food exporters....
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Japan launches $122bn stimulus

Dawn 06 Dec 2019
However, Tokyo is also seeking to balance its need for stimulus with its drive to reduce its massive public debt, which is more than twice the size of its GDP and the industrial world’s largest debt pile....
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Is capitalism broken? Yes, Munk Debate participants say, but the fix isn't obvious

Canada Dot Com 06 Dec 2019
For Arthur Brooks, capitalism is responsible for pulling two billion people out of poverty, and the world’s only hope of doing it again for the next two billion ... Varoufakis agreed that Western society owes a “great debt of gratitude” to capitalism for liberating the world from prejudice and feudalism....
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Benefitfocus Announces Selections for InnovationPlace Startup Cohort

Index-Journal 06 Dec 2019
... EDU 2019 Startup�contest.FutureFuel.�exists to crush student debt for America's 44 million borrowers. Their Student Debt FinHealth SaaS platform supports a highly flexible employer program design and on average shaves half of a decade and $15,000 off of a user's student debt....
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Imran launches ‘Digital Pakistan Vision’ initiative

The Siasat Daily 06 Dec 2019
The whole world is moving forward digitally and we have been left behind. “But you all know, and must be tired of hearing it, but we had an unprecented debt… and all our attention was focused towards stabilising the economy and our currency.”....
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Will Bunch: What Pete Buttigieg doesn't get about how college has ripped America in two

Finger Lakes Times 06 Dec 2019
The divide between elites who can afford the best schools money can buy and a middle class drowning in college debt surely poses a threat to whether America can compete in a knowledge-based world economy, but while no one was looking, the college gap has become a political crisis as well....
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Will Bunch: What Pete Buttigieg doesn’t get about how college has ripped America in two

The Bryan Eagle 06 Dec 2019
The divide between elites who can afford the best schools money can buy and a middle class drowning in college debt surely poses a threat to whether America can compete in a knowledge-based world economy, but while no one was looking, the college gap has become a political crisis as well....
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Dear Legislators: What's next?

The Norman Transcript 06 Dec 2019
Like many others, I feel nearly helpless to stop the onslaught of willful ignorance, an immoral President, the ticking debt-bomb for our children, cancerous dark money eating the marrow of our political system, a world on fire — literally and figuratively, and white nationalistic ......
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Japanese economy dives further into debt to save itself

Sydney Morning Herald 06 Dec 2019
The country already has the biggest debt load in the developed world relative to the size of its economy .......
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Why the gig economy means nations will soon find taxation more taxing

Moneyweek 06 Dec 2019
The world is her office. The world of work is changing as the gig economy – and the self-employed themselves – go global ... Governments around the world have got a big problem on their hands ... Across the developed world, 50% of government revenue comes from income taxes ... The largest taxi company in the world, Uber, has just 16,000 employees....
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After Decade Long Search, All 3,150 Photos of Fallen Vietnam Heroes Have Been Located

Explore Clarion 06 Dec 2019
– All 3,150 photos of Pennsylvania’s American heroes who died in the Vietnam War have been found and are now posted on the Vietnam Veterans Memorial Fund’s (VVMF) virtual Wall of Faces for everyone to honor around the world ... around the world,” said Governor Tom Wolf....
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Relief from price hike on the cards: Don’t panic, exciting times ahead, PM Imran Khan tells nation

The News International 06 Dec 2019
The whole world is moving forward digitally and we have been left behind. But you all know, and must be tired of hearing it, but we had an unprecedented debt and all our attention was focused on stabilising the economy and our currency," he added ... The whole world is moving forward digitally and we have been left behind....
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