Developing countries debt crisis – Chinese or Western trap?
As rich countries switch on their firefighting mode to tame soaring inflation, developing countries are feeling the heat. Higher interest rates mean increased debt servicing costs. Hawkish interest rate hikes are also triggering net capital outflows and currency depreciations, adding to the woes caused by commodity price volatilities and US-led trade disruptions. Thus, an increasing number of developing countries are[Read More…]