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The Graphic Truth: Developing countries' deadly debt trap

The head of the IMF has already warned that the state of the global economy is "worse than our already pessimistic projections." But while the pandemic is taking a huge economic toll on every country in the world, many emerging-market economies, which currently owe a collective $8.4 trillion in foreign debt, face a particularly grim tradeoff between paying their bondholders or funding their hospitals. Even before the coronavirus crisis, 64 countries spent more money annually servicing their external debt payments than they did on healthcare. Now, the global health emergency is taxing their underfunded healthcare systems, complicating attempts to contain the virus. Many countries have already pleaded for emergency debt relief. Here's a look at the countries that spend more on annual debt servicing than on healthcare.

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There are 48 countries involved in this year’s World Cup, but that only tells part of the story of just how global the “global game” has become.

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In his latest Quick Take, Ian Bremmer says the US and Iran’s memorandum of understanding to end the fighting and reopen the Strait of Hormuz marks progress, but warns it falls far short of resolving the broader conflict.

A man holds an Iranian flag on a street, after U.S. and Iranian officials said they had reached a deal to end their war and reopen the Strait of Hormuz, in Tehran, Iran, June 15, 2026.
Majid Asgaripour/WANA via REUTERS

The United States and Iran said Sunday that they had reached an interim agreement that could end the months-long war and reopen the Strait of Hormuz. Officials are expected to sign the deal in Switzerland on Friday, following the G7 summit in France.