New Delhi: Experts say that many developing countries are becoming poor countries following Sri Lanka. A continuous fall in the exchange value of currencies is considered as an indication of this.
It is estimated that Lebanon, Russia and Zambia are already in collapse and Belarus is on the verge of collapse. Apart from these, regarding a dozen countries are approaching the danger level. Debt crisis, inflation and over-indebtedness, the spine-chilling sight of many countries points to an economic collapse in the near future.
Economists say that the situation is not very optimistic in the analysis of the stock and bond market. The current situation is reflected in the market of debt of 400 billion dollars of various countries. Experts say that if the global market is not shaken and the International Monetary Fund (IMF) supports it, some countries will be able to hold on, but others are warned that others will lose ground.
Argentina
Argentina is in dire straits with a debt of 15,000 crores. The value of the currency, the peso, plummeted. The country is seeking help from the IMF.
Ukraine
As the war with Russia continues, Ukraine’s debt is mounting. There is a liability of 2000 crore dollars. That country is forced to borrow and buy weapons. A demand has now been made to freeze debt repayment for two years. They are facing a huge crisis with arrears of 1.2 billion dollars in the bond market.
Tunisia
The IMF is in the most danger. Assessing country. 10 percent of the budget is deficit. IMF for help The Case Saeed administration has not taken a favorable stand on the proposed conditions.
Ghana
Ghana’s currency, the cedi, has been devalued by a quarter within a year. A quarter of the country’s income will be needed to repay the debt.
Egypt
It is estimated that Egypt has a debt of 10,000 million dollars to settle within five years. The Gulf countries owe a huge sum of money in the form of fuel.
Kenya
Apart from these, Kenya spends thirty percent of its income on interest. The assessment is that the overall condition of the economy is dire.
Ethiopia
Ethiopia was one of the first countries to receive G20 debt relief. The existence of the country is with the help of an international bond of 1 billion dollars. The civil war devastated the country economically.
El Salvador
IMF El Salvador is in dire straits. Efforts were made to legalize Bitcoin as a money supply, but to no avail.
Pakistan
Talks between Pakistan and the IMF are at a critical stage. The country will be forced to implement unpopular decisions at the behest of the IFF. 40 percent of the country’s income is now spent on debt servicing. The rupee is now at a record low. Pakistan currently has enough foreign exchange reserves for five weeks of imports.
Balarus
The sanctions following the Ukraine war are leading Belarus to collapse. That country is now dependent on Russian aid.
Ecuador
Ecuador has been forced to make unpopular decisions as its debt piles up. Due to this, there was a lot of public anger once morest the government. With the removal of fuel subsidy, the country is in the grip of price hike. GDP Now it is only 2.1 percent.
Nigeria
Nigeria spends 30 percent of its income on debt interest. It is held with the help of international bonds. It is reported that the economic condition of the country has started to improve following June.