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.
France's Strategic Shift: Recognizing Moroccan Sovereignty over Western Sahara
The decades-old dispute over Western Sahara took a significant turn on July 30th when French President Emmanuel Macron declared Morocco’s autonomy plan as the “only basis” for resolving the conflict.
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Beneath the ambitious and multi-dimensional reforms it has undertaken in recent years, Uzbekistan is rapidly becoming an important Central Asian middle power
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Antić for the South China Morning Post: "Western concerns about SCO must be allayed. Kazakhstan can help"
The Shanghai Cooperation Organisation (SCO) held its annual summit on July 4 in Astana, the capital of this year’s chair Kazakhstan.
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