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Much has been written about the looming debt crisis in low- and middle-income countries. A series of global shocks and a worsening climate crisis have created an unprecedented challenge for many of these countries and the global community.
Since 1951, when the World Bank began lending to member countries for reconstruction and development, borrowing countries have been required to report detailed information on their external liabilities through the World Bank’s Debtor Reporting System.
Rising debt and record-high commodity prices are tempting many developing countries to pledge their natural resources to secure the financing they so urgently need. They should tread carefully: a renewed embrace of resource-backed loans could backfire on them.
Insights from Brad Parks.
What is the Real Story of China’s “Hidden Debt”? % ON SEPTEMBER 29, AidData, A RESEARCH LAB at William & Mary, released a detailed over-view of their new data