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UNCTAD urges reforms on global debt architecture amid rising distress

UNCTAD has called for urgent reforms to the global debt architecture to avert a widespread debt crisis among developing countries. In the wake of the COVID-19 pandemic, developing countries’ external sovereign debt – funds borrowed in foreign currency – increased by 15.7% to $11.4 trillion by the end of 2022. The mounting debt levels are further complicated by the diversity of lenders and financial instruments. ....

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UNCTAD urges reforms on global debt architecture amid distress

Kenya's Treasury expects interest payments in current financial year to hit Sh918 bn. ....

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UNCTAD urges reforms on global debt architecture amid rising debt distress

UNCTAD has called for urgent reforms to the global debt architecture to avert a widespread debt crisis among developing countries. In the wake of the COVID-19 pandemic, developing countries’ external sovereign debt – funds borrowed in foreign currency – increased by 15.7% to $11.4 trillion by the end of 2022. The mounting debt levels are further complicated by the diversity of lenders and financial instruments. ....

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Foundations for the future: Why the global financial system needs big changes to boost sustainable development

This episode of The Weekly Tradecast looks at the global financial architecture with UNCTAD senior economist Penelope Hawkins. ....

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The world's poorest countries buckle under $3.5trn in debt

A debt crisis is brewing across the developing world as a decade of borrowing catches up with the world’s poorest countries. ....

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