51. Credit crunch: Why we need an effective global system to deal with debt
This episode of The Weekly Tradecast looks at debt – what it is, how it works and why it matters – with economist Daniel Munevar from UNCTAD’s debt and development finance branch.
Inflation is high, interest rates are rising and the war in Ukraine has hit the world with a cost-of-living crisis.
Every day, debt is in the news as countries, companies and ordinary people struggle to repay their loans or borrow at reasonable rates.
Right now, 3.3 billion people live in countries that are spending more on debt servicing than on health or education. That’s almost half the world’s population.
How can we cope with so much debt pressure and what needs to change? Tune in to UNCTAD’s Daniel Munevar to put the credit crunch in context.