The COVID-19 Global Debt Crisis: How to Avoid It

This paper analyse the looming COVID-19 global debt crisis. The high incurred during pandemic period by many countries combined with tightening financial conditions such as increase in interest rate can trigger a crisis for heavily indebted countries. I suggest some actions to be taken richer countries, and multilateral organisations mitigate Richer who are creditors poor should consider forgiveness, repayment holidays, debt-for-green swap other relief options. Multilateral allow their affected members draw on contributory fund, they support G20 Debt Service Suspension Initiative, engage forgiveness advocacy. Heavily restructure debt, rebalance policy priorities, focus alternatives borrowing, manage level of find better ways shocks crises.