The pandemic and the Ukraine crisis have elevated global debt levels to new heights, beyond the stress nations were already facing before the pandemic. According to the recent IMF World Economic Outlook, the debt-to-GDP ratio in the median emerging market and the middle-income country was about 60 percent in 2021, as compared to 40 percent in 2013 at the time of the taper tantrum. Similarly, for low-income countries, it was double the amount in 2021 as compared to 2013.
The recovery from the pandemic has been largely uneven due to inadequate access to essential healthcare. By 2021, only half of the WHO member states reached the target of vaccinating 40 percent of their populations, and only 10 percent of the population in low-income countries have received at least one dose of the vaccine. Given that countries have varying capacities in addressing health threats and unequal access to public goods, health financing will become crucial in overcoming future health threats.
The Russia–Ukraine war has led to resurfacing of concerns regarding the illicit use of crypto-assets and its impact on the global financial stability. The crypto-assets are evolving quickly, thus G20 should play a key role in the regulation of digital assets through close global coordination with standard-setting bodies. The regulation of the assets must ensure supervision that creates necessary conditions for safe innovation.
[VIDEO] Ian Bremmer: The World Moves Too Fast for “Geopolitical Centuries” | Horizons Interview
Horizons presents an exclusive interview with Ian Bremmer, President and Founder of Eurasia Group and GZERO Media. The conversation explores the current state of global affairs, including the idea of a “geopolitical recession,” the rise of Asia, shifts in the domestic political landscape in the United States, transatlantic relations, the future of global governance, as well as the growing impact of artificial intelligence on international stability and economic transformation. The interview was conducted by Horizons Editor in Chief Vuk Jeremić and recorded in November 2025.
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Horizons Discussion with Jeffrey Sachs on the Asia-Pacific Century
The Center for International Relations and Sustainable Development (CIRSD) hosted a high-level Horizons Discussion featuring Professor Jeffrey D. Sachs, one of the world’s most renowned intellectuals, in conversation with Vuk Jeremić, President of CIRSD and Editor-in-Chief of Horizons. The event marked the launch of the 32nd volume of Horizons, titled The Asia-Pacific Century.
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When Development Falters: The Cost of Europe’s Inward Turn
At a time of growing global uncertainty and polarization, it can often be difficult to pinpoint the specific moments that will have the most pronounced impact on the long-term strength of our international system.
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GPDI Co-Chair María Fernanda Espinosa Calls for UN Reform Centered on Preventive Diplomacy in Interview with GZERO Media
Paris — On the sidelines of the Paris Peace Forum, María Fernanda Espinosa, Co-Chair of the Global Preventive Diplomacy Initiative (GPDI) and former President of the United Nations General Assembly, spoke with GZERO Media’s Tony Maciulis about the urgent need to make global peace efforts more proactive through preventive diplomacy.
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