Sri Lanka shows how broken debt negotiations have become
The country’s creditors decide they have no choice but to freeze out China | Finance & economics
Stay updated with breaking news from Common Framework. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The country’s creditors decide they have no choice but to freeze out China | Finance & economics
By Indermit Gill and M. Ayhan Kose
After years of pandemic, recession, and intensifying climate change impacts, many developing countries are increasingly getting stuck in a "climate debt trap."
The world’s 28 poorest countries are facing growing social, economic, and political distress, owing to rising debt burdens, diminishing development prospects, and chronic underinvestment. The world’s wealthier countries have chosen exactly the worst moment to become less generous with aid and development assistance.
Indermit Gill and Ayhan Kose warn that low-income countries' mounting economic problems will have growing spillover effects