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Indebted Planet – Covid hits world economies

Indebted Planet - Covid hits world economies

In 2020, the value of global debt rose to $290,000 to $600 billion.

– According to an analysis by Moody’s, an American organization for financial research and credit ratings, global debt rose by 32 thousand billion dollars to 290 thousand dollars to 600 thousand dollars, especially in the government sector, as a result of the Covid-19 epidemic last year, according to the growth portal.

Credit rating Eastern and Central Europe is doing relatively well in terms of debt repayment costs and external vulnerability.

“Although developed markets are more stable in managing debt, in the medium term, lower productivity growth and unfavorable demographic trends could jeopardize the results achieved so far,” the report stated.

The public debt of Greece, Spain, Slovakia, Cyprus, the United Kingdom, Portugal and Italy rose even more. Among other things, these countries are responsible for 65 percent of the accumulation of public debt over the past ten years. According to Moody’s list, the seven most vulnerable countries are Ukraine, Greece, Venezuela, Belize, Jamaica, Argentina and Belarus.

Source: Grow.com

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