The Lebanon contagion: Record debt levels are intensifying the region’s challenges

Security
Written By Hafed Al-Ghwell

Outlet: Arab News

Language: English

Abstract: In the past decade, the Arab region has experienced a surge in borrowing, leading to record levels of foreign debt accumulation. Factors such as the COVID-19 pandemic, volatile oil prices, and political instability have exacerbated economic challenges in countries like Egypt, Jordan, and Tunisia. With debt-to-GDP ratios exceeding 90 percent in some nations, there's a looming risk of default, akin to Lebanon's crisis in 2020. Urgent reforms are needed to address these structural issues and prevent further economic turmoil, emphasizing fiscal sustainability and responsible governance.

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Hafed Al-Ghwell
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