The global debt crisis and its repercussions on the international economy in a study by researcher Iman Al-Shaarawy
A study by researcher Iman Al-Shaarawy, who specializes in African affairs, dealt with the global debt crisis and its repercussions on the international economy, within issue No. 38 of the Trends of Events magazine issued by the Future Center for Advanced Research and Studies, headed by the editor-in-chief of A. Muhammad Al-Arabi.
The study mapped the global debt crisis, which is one of the largest crises facing the world’s developing and large economies alike, and called it the silent crisis, and the most important creditor and debtor countries. And the criteria by which debt risks are determined, as well as the threat of debt interest to development plans in developing countries. Basic public services. In Africa, the countries of the continent have allocated about $74 billion in 2024 to debt service, which represents a significant increase of 335% compared to its level of $17 billion in the year. 2010.
Also, the number of African countries whose debt-to-GDP ratio exceeds 60% increased from 6 to 27 between 2013 and 2023, confirming that in 2023, 26 African countries have allocated at least 10% of government funds to pay debt interest, with 769 million people in Africa living in countries where interest payments exceed investments in education. And health, which represents nearly two-thirds of the total population.
Researcher Iman El-Shaarawy stressed that geopolitical considerations dominate the lending policy of the World Bank and the International Monetary Fund, due to the influence they have on The United States exercises it over these institutions, as it contributes the largest share to the International Monetary Fund, reaching approximately 17% In a way that enables it to control the countries that take loans according to its economic interests and political affinity with these countries.
Al-Shaarawy explained, if the expectations of a new global financial crisis due to debts are what some see as A kind of exaggeration, but there is a consensus that this crisis is a global challenge facing development, and that excessive levels of external debt have hindered the ability of developing countries to invest in their economic future Whether through infrastructure, education, or health care, because their limited revenues go to servicing their loans, and this would negatively affect economic growth.
The number is gaining importance. Especially, given Because it coincides with many geopolitical changes taking place in the Middle East, the issue’s editorial addressed the changing balance of power in the Middle East region with the expanding repercussions of the Gaza War, and the attempts of some regional powers to seek “to build a new Middle East.” The risks that these ambitious plans may carry include further disintegration of the region and its people.
As for the issue’s file, it was based on what became known as the “Third Nuclear Age,” which It indicates the dangers of eroding nuclear deterrence in light of the escalation of international and regional conflicts in the Middle East and Eastern Europe, and the increasing escalation in eastern Asia.
The file also dealt with the dangers of employing tactical nuclear weapons in ongoing conflicts, and the possibilities of expanding membership of the nuclear club, with the presence of middle powers seeking to join the nuclear club. The file also focused on the dangers of expanding the scope of nuclear crimes, and what these transformations pose to the international regulation governing the possession and use of nuclear energy. Finally, the scenarios that public culture addresses about the threats of nuclear wars to the future of humanity and civilization.
