“World Bank economist warns of dangers of ignoring growing debt”
February 15, 2022
“WASHINGTON: Delays in dealing with the growing debt burden in poor countries seems unlikely to be resolved by the G20, a top World Bank official warned.
As interest rates are starting to rise around the world, putting more pressure on borrowers, the Group of 20 finance ministers are due to meet in Indonesia this week.
But World Bank chief economist Carmen Reinhart is skeptical there will be a resolution soon to help address unsustainable debts…”
It’s not a good idea for countries to borrow from these banks. When does it ever end well? I’ve never seen it work out at least. Make your own bank and borrow from yourself. How do you create value? You collect your money that you’ve created to pay taxes. This creates value for you’re otherwise useless money even if a country is beyond broke.