Welcome to the new global arms race: faster, smarter, more dangerous and more expensive than ever. In 2024, world military spending surged toa record $2.7 trillion, the steepest annual increase since the Cold War's end, driven largely by European, Asian and Middle Eastern nations.
On Monday, the International Monetary Fund warned that Accra’s plans to settle some of its $13 billion in debt would breach the terms of its bailout, pushing the country to the brink.