- Global Poor Lose Services as Developing Countries Face Higher Debt Payments (WSJ) $ and Defaults Loom as Poor Countries Face an Economic Storm (NYT)
- Despite not being the epicenter of the crisis, Latin American countries face payment crises, political backlash, and international tension as debt pressures mount worldwide.
- The problems in Latin America won’t hit immediately and will continue to build for many months.
- The debt payment problem will build across 2023, peaking with a payment crisis in some countries in the final quarter of next year or the first half of 2024.
- In terms of problems hitting earlier, Argentina is the biggest concern as the political campaign and election could accelerate the economic crisis.In the meantime, countries making higher debt payments have less money for public goods. And that will increase political anger. READ MORE
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