The pandemic has thrown many already-indebted countries further into the red. The problem is two-pronged for many Asian, African, and Latin American countries. They have taken on huge amounts of debt from the IMF to weather pandemic-related economic uncertainty, while also being caught up in a debt trap set by China, which funds large infrastructure projects in developing states but often with complex or misleading fine print. We take a look at which countries out of a group of 24 surveyed states owe China the most compared to their respective IMF debts.

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An injured soldier is transferred to a hospital following a clash between Thai and Cambodian troops over a disputed border area in Sisaket Province,Thailand, December 7, 2025.
Royal Thai Army/Handout via REUTERS

Thailand and Cambodia’s ceasefire is on the verge of collapse. Strikes were launched across their disputed border today, following clashes over the weekend that resulted in the death of a Thai soldier.

Anatomy of a Scam

Behind every scam lies a story — and within every story, a critical lesson. Anatomy of a Scam, takes you inside the world of modern fraud — from investment schemes to impersonation and romance scams. You'll meet the investigators tracking down bad actors and learn about the innovative work being done across the payments ecosystem to protect consumers and businesses alike. Watch the first episode of Mastercard's five-part documentary, 'Anatomy of a Scam,' here.