G-20 must stick together to save the global economy
Synopsis by Nikkei Asia May 18 22
Sri Mulyani Indrawati is the Finance Minister of Indonesia and co-chair of the G-20's Finance ...Read full articleNikkei Asia: G-20 must stick together to save the global economy
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| Last Updated | May 18 22 |
| Total Articles | 3 |
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Quick Glance: Why G20 'Common Framework' for Debt Relief Is Ineffective for Poor Nations
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- By the end of 2022, the poorest countries collectively owed their creditors approximately $1.1 trillion, surpassing the 2012 debt level. The financial strain from the Covid-19 crisis forced heavily indebted governments to allocate funds they lacked to fortify healthcare systems and assist citizens.
- Major central banks, led by the US Federal Reserve, raised interest rates to counter inflationary pressures arising from escalating grain and fuel prices following the Ukraine conflict. The resulting appreciation of the dollar exacerbated the situation for international borrowers.
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