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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UN urges aid for distressed nations

The Manila Times 03 Jun 2020
Norway’s UN ambassador, Mona Juul, head of the 54-nation UN body, told a meeting on financing and recovery for the crisis that the decision by the world’s 20 major economic powers to freeze debt service payments for the world’s poorest countries through the end of the year isn’t enough....
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UN urges help for countries near `debt distress' from virus

Yahoo Daily News 03 Jun 2020
body, told a meeting on financing and recovery for the crisis that the decision by the world’s 20 major economic powers to freeze debt service payments for the world’s poorest countries through the end of the year isn’t enough ... Monetary Fund, World Bank and United States....
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UN urges help for countries near `debt distress’ from virus

Wtop 03 Jun 2020
body, told a meeting on financing and recovery for the crisis that the decision by the world’s 20 major economic powers to freeze debt service payments for the world’s poorest countries through the end of the year isn’t enough ... Monetary Fund, World Bank and United States....
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UN body calls for action on debt amid pandemic

The Times of India 03 Jun 2020
Norway's UN Ambassador Mona Juul, head of the 54-nation UN body, told a meeting Tuesday on financing for the coronavirus crisis and recovery that the decision by the world's 20 major economic powers to freeze debt service payments for ......
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On debt relief, best to learn from history

Gulf News 03 Jun 2020
First, on account of poor harvest and then from pestilence, as farmers were unable to make interest payments on their debts ... As the debt situation slipped further out of control, desperate Athenians called Salon into public office and gave him full powers ... To be sure, debt holidays are not uncommon ... The world economy was shut down by fiat....
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Abu Dhabi completes a $3b bond issue demonstrating strong investor confidence

Gulf News 03 Jun 2020
Abu Dhabi maintains conservative levels of debt, with total Government debt at 12.1 per cent of GDP at the end of 2019, which is amongst the lowest in the world and is testament to the Emirate’s prudent fiscal and debt management policies....
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Personal Finance: Is the U.S. dollar's dominance at risk?

Times Free Press 03 Jun 2020
But this privileged role has allowed the United States to finance its massive debt without serious negative impact and has contributed to improved standard of living and higher real incomes for average Americans, at the expense to some degree of the rest of the world....
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German Bund yields at highest since mid-April as risk appetite soars

Canada Dot Com 03 Jun 2020
Demand for European government debt in general took a knock as world stocks vaulted to three-month highs after the Chinese services sector bounced back to growth and as lockdown restrictions were eased globally ... At the last update, the country’s debt management office was set to price the bonds at 9 bps over the outstanding August 2030 BTP....
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Schwab: Time for a Great Reset of Capitalism

Caixin Online 03 Jun 2020
Klaus Schwab is the founder and executive chairman of the World Economic Forum. Covid-19 lockdowns may be gradually easing, but anxiety about the world’s social and economic prospects is only intensifying ... And, with casualties still mounting in many parts of the world, it is far from over....
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Trudeau positions Canada as champion of co-ordinated global recovery plan

Canada Dot Com 03 Jun 2020
Among other things, he is expected to promise that Canada will partner with developing countries, which stand to be the hardest hit by the pandemic, and help to rally the world behind measures like debt relief to help them survive the crisis ... Canada is running on a platform of trying to help rebuild the post-pandemic world....
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Euro zone bond yields rise on risk appetite, record-breaking Italian sale

Canada Dot Com 03 Jun 2020
Demand for European government debt in general took a knock as world stocks vaulted to three-month highs after the Chinese services sector bounced back to growth and U.S ... Bond yields usually rise during a debt sale as investors sell outstanding bonds to make space for the new supply....
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Debt Relief for Tyrants Is a Terrible Idea

The Nation 03 Jun 2020
Helen C. Epstein. Bernie Sanders and Ilhan Omar want to cancel the debts of the world’s poorest countries. In some cases, that’s a big mistake. The post Debt Relief for Tyrants Is a Terrible Idea appeared first on The Nation ... ....
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German Bund yields at highest since mid-April as risk appetite grips world markets

Canada Dot Com 03 Jun 2020
Demand for European government debt in general took a knock as world stocks vaulted to three-month highs on hopes of more stimulus and a further easing in lockdown restrictions globally ... ECB data released on Tuesday showed the central bank scooped up all of Italy’s new debt in April and May but only managed to keep borrowing costs from rising....

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