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74 countries are at risk of bankruptcy due to the pandemic

... out to be ineffective. Servicing of the total debt of $20 billion that 73 states were due in 2020 has been suspended until the end of 2021. Despite this, many governments have turned to private capital markets to finance their response measures to the pandemic. Only 42 countries received $12.7 billion in aid, according to the Paris Club, which helped to coordinate the project along with the IMF and the World Bank. Sri Lanka is the closest to bankruptcy, according to experts. S&P Global rating agency has recently warned of the country's risk of default in the very near future, downgrading its sovereign bond rating. The deepening financial and humanitarian crisis, caused by the loss of tourism and high government spending, the need for huge debt repayments to China, led to unprecedented inflation ...

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