May 19, 2020
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.
More For You
- YouTube
At the 2026 World Economic Forum, GZERO's Tony Maciulis spoke with Matthew Blake, Managing Director at the World Economic Forum, about a defining transition for Davos and the state of the global economy.
Most Popular
Former South Korean President Yoon Suk Yeol arrives at a court to attend a hearing to review his arrest warrant requested by special prosecutors in Seoul, South Korea, July 9, 2025.
REUTERS/Kim Hong-Ji/Pool/File Photo
5: The number of years South Korea’s ex-President Yoon Suk Yeol was sentenced in prison today, on charges related to his failed attempt to impose martial law last year.
Russian President Vladimir Putin speaks during a news conference after a meeting of the State Council on youth policy in Moscow, Russia, on December 22, 2022.
Sputnik/Sergey Guneev/Pool via REUTERS
The Russian president said little when the US seized Venezuelan strongman Nicolás Maduro, an ally of Moscow. But there might be a reason for his silence.
© 2025 GZERO Media. All Rights Reserved | A Eurasia Group media company.
