It looks a debt crisis is looming in the developing world. The International Monetary Fund estimates 60% of low-income countries are in, or at high risk of, debt distress, double the 2015 level. During the pandemic, government debt ballooned by almost $2 trillion in more than 100 developing countries. 25 developing economies are currently spending over 20% of their government revenues on debt servicing. Apart from economic turmoil, the possibility of a wave of sovereign defaults is giving rise to concerns of political instability in these economies.

Can there be a realistic solution to the crisis?

Host Ding Heng is joined by Professor Liu Baocheng, Director of the Center for International Business Ethics at the University of International Business and Economics; Dr. Lauren Johnston, Associate Professor at the China Studies Center, University of Sydney; Keith Pilbeam, Professor of International Economics and Finance at City, University of London.