Oxfam says Emerging Economies Face $220 Billion in Budget Cuts Amid Debt Crisis

Earlier, Oxfam and other assistance and advocacy organisations urged foreign creditors to forgive the debts of developing nations experiencing economic distress.

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The research also stated that healthcare spending is outpacing debt servicing payments for the poorest nations by a ratio of four to one.

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Prior to this, longer-dated US government yields hit highs not seen since the financial crisis, in part due to positive labour market data.

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