After a decade or more in which they have been obsessed with their own problems, countries in the wealthy west are starting to wake up to the risk of a looming debt crisis in poorer parts of the world.
This weeks gathering of the International Monetary Fund and World Bank in Washington has been marked by a discussion about what to do about countries that are in debt distress or on the brink of it.
The good news is that debt has climbed back up the policy agenda and is seen as a problem that needs sorting. The managing director of the IMF, Kristalina Georgieva, has been particularly keen to stress the need to assist struggling countries while there is still time.
I would like to make a double plea on their behalf: help them handle the burden…
Read the full article at: https://www.theguardian.com/business/2023/apr/13/wealthy-west-has-little-excuse-global-debt-crisis