AD 2021: Covid-19 and Debt for All

December 17, 2021

The last decade has been marked by a long period of debt accumulation, particularly in emerging and developing economies. Loose financing conditions and low interest rates encouraged these countries to borrow to meet their financing needs. Today, in the context of the global crisis caused by the Covid-19 pandemic, the situation is becoming more worrying.  The increase in public spending on health and social protection, combined with the decrease in tax revenues, has led to a widening of deficits and an acceleration of the pace of indebtedness, which has added to the upward trend already underway since 2010. The world is thus faced with a dilemma: ensuring a sustainable economic recovery without exacerbating the risks of a global debt crisis. Should we be more concerned about the economic recovery or the debt situation? Are we facing a trade-off? Have the initiatives taken by the international community so far, in support of certain countries, to mitigate their risks of over-indebtedness and default, been sufficient and effective? How to maintain the development momentum for countries facing a liquidity shortage? How to reform the international architecture to reduce the risk of future debt crises?

John Yearwood
President and CEO, Yearwood Media Group
An award-winning multimedia journalist, John Yearwood is President and CEO of Yearwood Media Group, a global consulting and content creation firm. In his role as President/CEO of Yearwood Media, he advises companies seeking to do business in emerging markets, with a particular focus on Africa and Asia. In 2019, he was appointed honorary chair of the the National Association of Black Journalists annual convention, which convened 4,100 black journalists in Miami. He sits on several boards, including the Austria-based International Press Institute, where he is the former chairman. Former world editor of the Miami Herald. The World Desk won numerous awards under his leadership, including two McClatchy Company President’s Awards and the Arthur Ross Award for best coverage of Latin ...
Rym Ayadi
Founder and Scientific Director, Euro-Mediterranean Economists Association
Rym Ayadi is the Founder and President of the Euro – Mediterranean Economists Association (EMEA). She is Founder and Director of the Euro-Mediterranean and African Network for Economic Studies (EMANES). She is Senior Advisor at the Centre for European Policy Studies (CEPS); Professor at the Bayes Business School, City University of London and Member of the Centre for Banking Research (CBR); Chair of the European Banking Authority – Banking Stakeholders Group (EBA- BSG). She is also Associated Scholar at the Centre for Relationship Banking and Economics (CERBE) at LUMSA University in Rome. ...


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