Debt has been rising around the world and according to a new report, the trend is unlikely to stop anytime soon. Some African countries are so indebted that they don't even bother trying to service their debt anymore.
The "Debt Report 2019," presented by Jubilee Germany in Berlin on Wednesday, paints a dark picture of global debt. The organization, which is comprised of civic and church groups, is engaged in efforts to end the problem.
The report claims that low interest rates and cheap credit are motivating poorer countries to borrow beyond their means, catching them in a debt trap they will never be able to escape from.
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WNU Editor: 122 countries are regarded to be critically indebted. A sobering number if you ask me.
3 comments:
And it will continue because current economic structure, hell, the very foundation of how we perceive the economy, how we manage it, is fundamentally flawed.
And until radical change and new ways of thinking is approached, it will remain as such.
I didn't know there were 122 countries much less that were terribly indebted.
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