WASHINGTON: In 2016, the discovery of two large, previously unreported loans sparked an economic crisis in Mozambique. Donor support to the country froze. The government was forced to make deep cuts in public spending. More recently, when Chad and Zambia asked to restructure their debt under the G-20’s Common Framework for Debt Treatments, they ran … Read more
WASHINGTON: Public debt ratios in Latin America and the Caribbean (LAC) increased by about 10 percentage points of GDP in 2020. With debt service costs rising, countries in the region are under pressure to cut public spending and/or raise taxes, even in the face of widespread needs to respond to the pandemic. Our latest Regional … Read more
RIYADH: Saudi Arabia’s public debt increased SR25.5 billion ($6.8 billion) in the third quarter of this year, reflecting a growth rate over the period of 2.8 per cent, Arab News reported. The total debt now stands at SR948.3 billion, the recent quarterly budget performance report revealed. The increase was almost solely due to the growth in domestic … Read more
The World Bank says that Pakistan’s growth rate will be 2.4 percent in the next two years. According to the details, the World Bank predicts Pakistan’s economic growth targets for the next two years. Imran Khan’s government cannot meet the targets of inflation, public debt and fiscal deficit reduction, says World Bank. In the report … Read more
