10 Countries Most In Debt To The IMF
Using data from the International Monetary Fund on Total IMF Credit Outstanding, the 10 countries most in debt to the IMF are listed here, with Argentina and Egypt topping the list. The International Monetary Fund (IMF), which was founded in 1944, offers financial assistance and policy recommendations to nations to promote stability, productivity, and employment […]
Argentina Rejects Sovereignty And Falls Into IMF’s Debt Trap
Argentina has fallen into the IMF’s debt trap, rejecting sovereignty. At the moment, Argentina uses nearly all of its foreign exchange profits to settle its external debt. Argentina gets into IMF’s debt pit In Argentina, ultra-liberal economist Javier Milei became victorious in the run-off for president. With 55.8% of the vote, he won. His opponent, […]
If US Defaults On Its Debt, What Happens To World Economy
Mark Zandi, chief economist at Moody’s Analytics, said that if the US defaults on its debt, no corner of the global economy will be spared. If the debt crisis roiling Washington were eventually to send the United States crashing into recession, America’s economy would hardly sink alone. The repercussions of a first-ever default on the […]
Visualizing The Rise Of America’s Debt Ceiling
The Rise of America’s Debt Ceiling has been visualized below using data from various sources, including the World Bank, U.S. Department of the Treasury, and Congressional Research Service. Every few years the debt ceiling standoff puts the credit of the U.S. at risk. In January, the $31.4 trillion debt limit – the amount of debt the U.S. […]
U.S. Owes Whopping $7 Trillion To Foreigners
Chris Edwards, an economic analyst at the Cato Institute, said that as the U.S. owes a whopping $7 trillion to foreigners, the federal government would be forced to either hike taxes or cut spending immediately to be able to pay the increased interest. The good news during the latest government showdown is that most of […]
California Defaults On $18.6 Billion In Debt
According to data from the US Treasury, California owes the most debt at $18.6 billion and has defaulted on it. California’s recent decision not to pay back some $20 billion borrowed from the federal government to cover unemployment benefits during the pandemic will fall on the shoulders of employers, according to experts. “The state should have […]
US Debt: Visualizing The $31.4 Trillion Owed In 2023
According to the Department of the Treasury, the current US national debt is $31.4 trillion, which is visualized below.
$1.5 Trillion Commercial Real Estate Crash Is Coming
According to a Bloomberg report, analysts have warned that a $1.5 Trillion commercial real estate crash is coming.
Russia Defaults On Foreign Debt For First Time Since Bolshevik Revolution
Several sources have reported that Russia is defaulting on foreign debt for the first time since the Bolshevik Revolution in 1918.
Will The Global South Break Free From Dollarized Debt?
With The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism, Michael Hudson, one of the world’s leading independent economists, has given us arguably the ultimate handbook on where we’re at, who’s in charge, and whether we can bypass them.