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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DA proposes fiscal rule to rein in government debt

Business Day 24 Feb 2020
The government’s escalating debt has to be restrained and the DA says it has come up with a legal mechanism it believes will force it to look for other ways to reduce the gap between revenue and expenditure other than increasing debt levels ... Debt to GDP was forecast by Treasury in October to reach 71.3% ......
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IMF extends visit to crisis-hit Lebanon: sources

Arab News 24 Feb 2020
Saddled with one of the highest public debt burdens in the world, Beirut must decide quickly what to do about fast-approaching debt payments including a $1.2 billion Eurobond maturing on March 9 ... anticipated losses to creditors from what they said was a likely debt restructuring....
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Will Bunch: It's the affordability, stupid. Can this one word put a Democrat back in ...

Finger Lakes Times 24 Feb 2020
Her student debt ... Lowrey's Atlantic piece was groundbreaking in seeing college debt, rents and other expenses as one common crisis, when they are typically discussed in their separate silos ... "I've radically accepted that I'm going to die with my loans, so in a perfect world there would be no student loan debt."....
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Will Bunch: It’s the affordability, stupid. Can this one word put a Democrat back in ...

The Bryan Eagle 24 Feb 2020
Her student debt ... Lowrey’s Atlantic piece was groundbreaking in seeing college debt, rents and other expenses as one common crisis, when they are typically discussed in their separate silos ... “I’ve radically accepted that I’m going to die with my loans, so in a perfect world there would be no student loan debt.”....
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If Lebanon needs financial aid, France will be there, finmin says

Gulf News 24 Feb 2020
... the crisis as Beirut mulls a plan for dealing with fast-approaching debt payments ... Saddled with one of the highest public debt burdens in the world, Beirut must decide quickly what to do about fast-approaching debt payments including a $1.2 billion Eurobond maturing on March 9....
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Shipping Giant CMA CGM’s Debt Plan Seen at Risk Amid Virus Fears

TT News 24 Feb 2020
The coronavirus outbreak is threatening to scupper a debt refinancing for CMA CGM SA, the world’s third-largest container shipping company ... ....
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Coronavirus set to deal heavy blow to Italy's ailing economy

Yahoo Daily News 24 Feb 2020
Yields jumped on government bonds, increasing the cost of servicing the highest debt in the euro zone after Greece's, and the cost of insuring Italian debt against default rose. Italy is the world's fifth most visited country, according to United Nations data, and tourism ......
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Coronavirus spreads outside China, but 'world in Wuhan's debt' for its actions -WHO

Canada Dot Com 24 Feb 2020
The virus has put Chinese cities into lockdown in recent weeks, disrupted air traffic to the workshop of the world and blocked global supply chains for everything from cars and car parts to smartphones ... “The world is in your debt,” Aylward, speaking in Beijing, told the people of Wuhan....
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Coronavirus cases spread outside China, fall inside, winning WHO's praises

Canada Dot Com 24 Feb 2020
The virus has put Chinese cities into lockdown in recent weeks, disrupted air traffic to the workshop of the world and blocked global supply chains for everything from cars and car parts to smartphones ... “The world is in your debt,” Aylward said in Beijing, addressing the people of Wuhan....
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Coronavirus cases spread outside China, but WHO reports turning point in Wuhan

Canada Dot Com 24 Feb 2020
The virus has put Chinese cities into lockdown in recent weeks, disrupted air traffic to the workshop of the world and blocked global supply chains for everything from cars and car parts to smartphones ... “The world is in your debt,” Aylward, speaking in Beijing, told the people of Wuhan....
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Majid Al Futtaim’s 2019 revenue hits $9.58bn

Gulf Daily News 24 Feb 2020
Securing a low risk ESG rating, issuing the world’s first benchmark ... During the year, the company refinanced existing debt through two Green Sukuk issuances totalling $1.2 billion, with the initial issue being the world’s first benchmark size corporate Green Sukuk....
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Union Aid Society taps Nash as new executive director

Pittsburgh Tribune Review 24 Feb 2020
Carla Nash lives by the mantra. No matter what she does, she wants to make a difference in someone’s life ... 1 ... government ... You have to know a lot ... Many years ago, Nash’s husband found himself without a job in the independent consulting world. She looks back on those days and the organizations she learned about that would help people with debt....
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Tamil Tiger Gangs Robbing Millions From Bank Customers In Credit Cards’ Fraud

Asian Tribune 24 Feb 2020
Urgent action by banks in this digital world of computers and technology, is needed to stop millions of pounds worth of debt card and credit card fraud and illegal transactions and payments by low paid workers connected to Tamil gangs, who are providing the terrorist organization ......
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