Debt and Global Economy: the challenges and the way-out

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There is serious unemployment in many developed countries and increasing poverty in the developing countries, many of which have huge debts to the countries suffering unemployment which, struggle as they may, they cannot pay.
Africa’s growing public debt has sparked a renewed global debate about debt sustainability on the continent. This is largely owing to the emergence of China as a major financier of African infrastructure, resulting in a narrative that China is using debt to gain geopolitical leverage by trapping poor countries in unsustainable loans.
Rising cost of debt service, as debt loads have grown and become less concessional, interest payments have absorbed a growing share of government revenues. Countries should work to strengthen their comparative advantage in high-value-added, innovation-intensive industries and empower our citizenry through appropriate training and incentives to take on new high-skill jobs. The debt on the debt trap diplomacy narrative has elicited vali

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Debt and Global Economy: the challenges and the way-out