COUNTRIES across the global south are experiencing climate, poverty and development crises 鈥� all made worse by the unbearable costs of debt servicing. Indeed, according to Development Finance International, 鈥楥itizens of the Global South now face the worst debt crisis since global records began.鈥� Low-income countries, which have seen the amount...
The president of cash-strapped Maldives will take a 50-percent pay cut as part of an austerity drive that will see public sector salaries reduced to prevent a debt crisis in the tourist hotspot, his office said Thursday.
China posted on Monday lower than expected growth in the second quarter, with all eyes on how top officials gathering for a key meeting in Beijing might seek to tackle the country鈥檚 deepening economic malaise...