countries: For a while, optimism seemed well founded, according to The Guardian. Public debt for those countries that qualified for help dropped from an average of 100% of their annual income in the early 2000s to just over 30% by 2013 freeing up resources to spend on health, education and infrastructure projects. The event marked the high point of international development cooperation and was supposed to put the finances of low-income nations on a permanent sustainable footing. Now warning signs are flashing that another debt crisis is approaching, with concerns being raised not only by development campaign groups but by the International Monetary Fund and the World Bank. The Bank says debt in poor countries is a rising vulnerability . Explaining how the world came to be on the brink of debt crisis 2.0 is relatively simple. The IMF says 40% of low-income countries are either in debt distress or at high risk of being so.
(news.financializer.com). As
reported in the news.
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