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


Indebtedness Will Change Reserve Bank Of Australia’s Goals, Says Study

The Tennessee Tribune 21 Apr 2021
And while Australia’s sovereign debt jumped by more than AUD 210 billion ($164.02 billion) in 2020, its ratio of debt to gross domestic product remains among the lowest in the developed world ... This is lower than the global debt to Gross Domestic Product average of 70 percent ... But debt levels as a proportion of the world economy had likely peaked....

World Bank expects to fund $4bn worth of Covid-19 vaccines for 50 poorest nations

The National 21 Apr 2021
Earlier this month, the IMF said it is extending $238m of debt service relief for 28 of the world's poorest countries, allowing them to conserve funds for pandemic mitigation measures ... Both the IMF and the World Bank have urged the G20 to further extend its Debt Service Suspension Initiative till next year....

Circular debt plan outline shared with WB

Dawn 21 Apr 2021
He acknowledged the longstanding partnership and firm commitment of the World Bank as a major development partner for bringing essential reforms in priority areas, including energy, fiscal and debt management and socio-economic development....

Ghana will find it expensive to borrow – Moody’s

Ghana Web 21 Apr 2021
“The negative outlook reflects the rising risks that the pandemic poses to Ghana’s funding and debt servicing due to its exposure to shocks from a high dependence on external financing,” said Kelvin Dalrymple, Vice PresidentSenior Credit Officer, at Moody’s ...Debt affordability ......

European 'Super League' Plans Set Off Battle for Future of Football

Beijing News 21 Apr 2021
Manchester United, Manchester City, Real Madrid - almost every club in Europe and around the world - are in massive debt. But the big clubs are in more debt because they have more salaries to pay ... "So, if I had to pick one (reason), I think it is indeed the level of debt that the pandemic has created in European football....

Judith Butler: Creating an Inhabitable World for Humans Means Dismantling Rigid Forms of Individuality

Time 21 Apr 2021
However differently we register this pandemic we understand it as global; it brings home the fact that we are implicated in a shared world ... Because so many resources are not equitably shared, and so many have only a small or vanished share of the world, we cannot recognize the pandemic as global without facing those inequalities....

Why the reopening of economies could be difficult for cyclical stocks

The National 21 Apr 2021
The easing of restrictions in many parts of the world brings with it differing opinions ... Should you invest in shares or pay down debt?. World stocks rally as upbeat China, US data cement economic recovery hopes. Over the past few weeks, stock markets have been similarly buoyant, hitting new highs across the world....

Debt service suspension bad for economy — Experts

Graphic 20 Apr 2021
The specialists in debt structuring and capital market operations said the debt service suspension initiative (DSSI) by the Group of 20 Countries (G20) under the auspices of the World Bank Group (WBG) and the International Monetary Fund (IMF) posed negative challenges for the ......

Ghana to reduce its debt in the next two to three years – Quartey

Ghana Web 20 Apr 2021
I believe if we are able to raise more revenue domestically then we can then we can reduce our dependence on loans,” he said while speaking on the debt situation in the country ... If you look at the recent statement that came from the World Bank they are projecting our debt by 2023 to be about 81 per cent of our GDP....

World Bank sets tough loan terms for USD 1.5 billion to Pak

Beijing News 20 Apr 2021
As Pakistan's financial debt continues to mount, the World Bank has set tough conditions for USD 1.5 billion lending such as an increase in electricity rates, introduction of new power and tax policies, putting the Imran Khan-led government in a tight spot that is already seeking a review of the International Monetary Fund (IMF) deal....

With no propensity for generosity, who will help the Caribbean?

Jamaica Observer 20 Apr 2021
In these drastic circumstances, the Caribbean has urgent and substantial needs for development aid and debt relief, preferably in the form of grants and debt cancellation ... First, the IMF, the World Bank and the Inter-American Development Bank do not cancel debt, they postpone payments and they lend some additional money....

Olive Tree Launches Tech-Enabled Debt Marketplace to Streamline Commercial Real Estate Lending

The Marshall News Messenger 20 Apr 2021
, a debt placement marketplace that optimizes the commercial real estate lending experience by creating true markets in real time, today announced its public launch into the market ... TrueRate, a debt placement marketplace for commercial real estate lending (Photo ... TrueRate is a debt placement marketplace for commercial real estate lending....

Solidarity key to building $650bn reserves and common debt framework, IMF chief says

The National 20 Apr 2021
The IMF initiatives such as the common framework for orderly debt resolution can also benefit from continued co-operation between its members, Kristalina Georgieva said on Tuesday at the Boao Forum on Asia. “In a world of change, one thing remains constant – the importance of solidarity between countries,” she said....