The US has stated that it plans to borrow a record $3 trillion in the second quarter of 2020 to combat the risks presented by COVID-19. Coronavirus-related rescue packages have blown up the federal spending budget as the country tries to aid businesses struggling financially due to lockdown closures. The

In an attempt to soothe the economic impact of the ongoing pandemic, the European Central Bank (ECB) has started an emergency $820 billion package that will buy government and company dept across the EU, particularly in Greece and Italy. ECB’s CEO Christine Lagarde stated that they are incredibly committed to

Debt levels in Africa are at their highest since 2001, with 18 countries either undergoing or at immediate risk of an acute debt crisis, according to the World Bank. Declines and fluctuations in commodity prices have impacted many countries, but two of the most significant factors in the issue are

Kenya’s total debt to China has grown 15 percentage points since 2016, increasing from 57% to 72% of its bilateral debt, an amount 8 times greater than the next biggest lending partner (France). In the past 5 years, debt levels to China have multiplied by a factor of 10. Critics