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


Looming Global Food Crisis Requires Immediate and Coordinated Action from All Sectors

Longview News-Journal 17 May 2022
Making matters worse, the current crisis coincides with high debt levels in many developing economies around the world ... ranging from rising costs of food, fertilizer, and fuel, to maxed-out debt, climate-related issues, ongoing conflicts elsewhere in the world, and COVID-19....

WHO’s Grand Play for World Power

Armstrong Economics 17 May 2022
Will the next “pandemic” be a global warning thus locking down the entire world? ... There are people who want it to deprive the world of any possible understanding, and there are those who try to use it to control the world ... They believe in this grand scheme of a one-world government as it somehow will eliminate war, all debt, and achieve utopia....

Why India will be a key player in the emerging New World Order

Alternet 17 May 2022
It is also clear that the nonalignment of today must be based on the demand for the transformation of the world order, which will entail the rejection of the dictatorship of the World Bank and the IMF and the enduring impact of debt, the abolition of sanctions as a tool of war, and a more equitable United Nations....

Remarks By President Biden, First Lady Jill Biden, and Prime Minister Mitsotakis Of Greece at ...

The White House 17 May 2022
And the trees you plant will continue to cover our world ... The United States and the world owe a debt to the ancient Greek ideas that first taught us that “we the people” and the “demos,” our democracy, can control our own destiny ... Earlier this year, we paid off Greece’s outstanding debt to the IMF two years ahead of schedule....

Florida Gov. Ron DeSantis says the STATE will take over Disney's Reedy Creek Improvement District ...

The Daily Mail 16 May 2022
Florida governor Ron DeSantis says that the state will likely take over Disney World's Reedy Creek Improvement District rather than local governments absorbing the special district ... DeSantis stripped the special district that comprises Disney World and its surrounding properties of of its status in April....

Snapchat co-founder pays off college debt of new graduates at LA art and design school

Finger Lakes Times 16 May 2022
She enrolled at Otis College of Art and Design in Los Angeles to become a graphic designer — even though she wracked up about $70,000 in college debt to do so ... Their college debt would be completely paid off through the largest donation in the school’s century-old history by Snapchat co-founder Evan Spiegel and his wife, Miranda Kerr....

Smart Money Podcast: New Student Debt, and a Couple's Money Baggage

Napa Valley Register 16 May 2022
Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. This week’s episode starts with a discussion of the student debt new high school grads — and their parents — could take on ... Some day, we want to be debt-free, have kids....

Switzerland Joining the Warmongering Crowd

Armstrong Economics 16 May 2022
Indeed, we certainly have the worst possible crop of world leaders EVERYWHERE ... This pounding of chests is not going to do anything but hurl us toward war so they can do this Great Rest and default on world debt because they have run the largest Ponzi scheme in human history ... We can restructure the debt as I would do for a corporation in crisis....


Longview News-Journal 16 May 2022
Wood, will create the opportunity for a debt-free tuition for aspiring physicians ... After reading of the massive debt medical students incurred, we decided to include the FAU College of Medicine into our scholarship program, with an ultimate aim of 80 students ... The world has 'Doctors without Borders' - we need 'Doctors without Debt.'"....

After a bruising year, SoftBank braces for more pain

Economist 16 May 2022
All this is making SoftBank’s net debt of $140bn, the sixth-largest pile for any listed non-financial firm in the world, harder to manage ... Its debt, too, looks problematic ... \n\nThe price of credit default swaps against SoftBank’s debt, which pay out if the company defaults, tell a different story....

To empower patients, price transparency is key

Orange County Register 16 May 2022
Health care is a $4 trillion dollar industry in the United States, and we spend more per capita than any other country in the world. With Americans’ collective medical debt at $195 billion and 64% of Americans reporting that they have avoided or delayed care out of fear of the cost, policymakers must look at new solutions....

Rio Rancho-based National Guard brigade celebrates 100th anniversary

Rio Rancho Observer 16 May 2022
The Rio Rancho-based 111th Sustainment Brigade of the New Mexico Army National Guard is a century old. From left, master of ceremonies Maj. Louis Herrera and the honor party, Rio Rancho Mayor Gregg Hull, Brig. Gen. Jamison Herrera, Col. Pia Romero and Command Sgt. Maj ... Gen ... Romero said the free world owes those soldiers a debt for their sacrifice ... .......

Convicted killer turned tech whiz confronts his sordid past

Belfast Telegraph 16 May 2022
Mr Hershtik learned from Mr Sela about the world of snake handling and the two set up snake exhibits together and partnered to crossbreed the reptiles ... But today, he believes his partner is trying to “do something good for the world” ... He paid his debt to society in jail ... He paid his debt to society in jail ... Latest World....

Most Viewed