An increasing number of middle and low income countries are facing crushing economic strains. From Argentina to Pakistan to Zambia, living costs are rising, economic growth is stalling and absolute poverty is increasing. At the same time, governments are finding it staggeringly difficult to find ways to pay the interest and principal on their vast foreign debts.
In classic bureaucratic language, the IMF and the World Bank call these the “debt distressed countries.” The truth is that the economic conditions, and the policies that governments feel forced to impose, are gravely adding to poverty.
Read the article about debt distress
