THE STRUGGLE OF LOW AND MIDDLE- INCOME COUNTRIES

Across the world, low- and middle-income countries are struggling with the rising cost of their debt, sudden price increases for energy, fertilizer and food, and the likelihood of interest rate increases.

According to UNCTAD, there are 107 countries facing at least one of three shocks: rising food prices, rising energy prices or tighter financial conditions. All three shocks are being faced by 69 countries:  25 in Africa, 25 in Asia and the Pacific, and 19 in Latin America and the Pacific.

The World Bank say almost 60% of the lowest-income countries are in debt distress or at high risk of it, while the cost of servicing borrowing is rising steeply, particularly for those countries that have amassed debts in foreign currencies.

• Afghanistan
• Burkina Faso
• Burundi
• Central African Republic
• Chad
• Democratic Republic of Congo
• Eritrea
• Ethiopia
• Gambia
• Guinea
• Guinea-Bissau
• Liberia
• Madagascar
• Malawi
• Mali
• Mozambique
• Niger
• North Korea
• Rwanda
• Sierra Leone
• Somalia
• South Sudan
• Sudan
• Syrian Arab Republic
• Togo
• Uganda
• Yemen