Barron's - World Facing '5th Wave' Of Debt Crisis: World Bank Chief

Article in Barron's

The world is facing a "fifth wave of debt crisis," World Bank President David Malpass warned Friday, calling for more support for countries in distress.

The pandemic forced many countries to take on more borrowing, and the World Bank and International Monetary Fund have warned that many are already facing or at risk of debt distress amid soaring global inflation and rising interest rates.

"I'm worried about the debt levels, worried about the individual countries," Malpass told reporters.

"In 2022 alone, around $44 billion in debt service payments from .....

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