The Unfolding Sovereign Debt Crisis
نویسندگان
چکیده
Following the 2008 global financial crisis, years of low interest rates provided a rare opportunity for many developing nations to borrow in international markets—whether issuing bonds their own currencies, securing loans from private-sector banks and commodity traders, or borrowing China, which emerged as dominant official creditor. Developing countries’ overall external debt rose record level during this period. As central raise sharply counter rise inflation, these countries are at risk default. The mix public private creditors opacity loan terms make it difficult coordinate restructuring. key factor may be domestic politics.
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ژورنال
عنوان ژورنال: Current history
سال: 2023
ISSN: ['1944-785X', '0011-3530']
DOI: https://doi.org/10.1525/curh.2023.122.840.9