World News@lemmy.worldEnglish · 2 years ago

Debt Crisis: Poorest Nations Owe Trillions in High Interest-Rate World

www.bloomberg.com

Debt Crisis: Poorest Nations Owe Trillions in High Interest-Rate World

www.bloomberg.com

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World News@lemmy.worldEnglish · 2 years ago

The World’s Poorest Countries Buckle Under $3.5 Trillion in Debt

www.bloomberg.com

Wall Street encouraged nations in Africa, Latin America and Asia to borrow. Now persistent high rates could spur a 2024 reckoning.

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2 years ago

The situation is especially grave, because these nations have small domestic markets and must turn to global lenders for cash to spend for hospitals, roads, schools and other vital services.

Seems better than the alternative.

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