Soaring inflation, rate hikes and a stronger dollar are reminiscent of the early 1980s – a decade that brought a wave of EM sovereign debt crises. This year has already seen Sri Lanka default, hit by an external liquidity crisis.
Soaring inflation, a strong dollar and a complete overhaul of global energy markets are playing hell with Emerging Market debt. The world is now teetering on the edge of a global debt crisis, warns Oxford Economics.
The economic war that the West launched against Russia in the days following the invasion of Ukraine has already cost developing nations $379bn, analysts estimate.
Bloc’s giant investment offer may appeal to countries worried by Chinese “debt-trap diplomacy”. Beijing warns against geopoliticising infrastructure.
Global hydro capacity needs to double by 2050 if water-based power is to make a meaningful contribution in the race to net zero, IRENA director-general Francesco La Camera has warned