Emerging nations, including El Salvador, Ghana, Egypt, Tunisia and Pakistan, will be challenged with a historic cascade of defaults as a quarter-trillion-dollar pile of distressed debts keeps exerting downward pressure on economies, Bloomberg is reporting. “With the low-income countries, debt risks and debt crises are not hypothetical,” the World Bank’s …
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Banks in Germany are expected to put aside extra funds to be able to tackle a potential spike in defaults if Russia cuts off natural gas supplies, several high-ranking banking officials said, as quoted by Bloomberg. In case of a complete suspension of Russian gas supplies, Europe’s largest economy is …
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Crisis-hit Sri Lanka said it was halting payments on its foreign debt as its dwindling reserves of dollars were needed to purchase food and fuel. “We have come to a situation where the ability to service our debt is very low. That’s why we decided to go for a preemptive …
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