World Debt

The unrest erupted nationwide last year after Imran Khan was detained by paramilitary Rangers from the Islamabad High Court during a corruption case proceeding.

The World Bank noted in December 2022 that the poorest countries saw their debt treble to $1 trillion over the decade ending 2021

A greater proportion of poorer-country debt is now owed to commercial lenders, which offer shorter maturities, and capital markets have largely closed to many governments

Sri Lanka was the first nation to stop paying its foreign bondholders this year, burdened by unwieldy food and fuel costs that stoked protests and political chaos

In emerging markets, South Africa and India had the biggest increases in government debt ratios last year

Surging private-sector debt, particularly in China, is driving the build-up