• Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
Saudi Business News
Friday, June 6
23:01
34 °c
Riyadh
No Result
View All Result
Saudi Business News
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line
No Result
View All Result
Saudi Business News
No Result
View All Result

HomeEconomyGlobal Debt Crisis: A Looming Threat

Global Debt Crisis: A Looming Threat

Saudi Arabia urges global action to tackle sovereign debt challenges.

October 31, 2024
in Economy
Reading Time: 1 min read
152
SHARES
1.9k
VIEWS
Share on FacebookShare on XShare on LinkedInShare on Telegram

Saudi Arabia’s finance minister has highlighted national debt as a looming threat to global markets, particularly affecting low-income countries and emerging economies. He emphasized the lack of fiscal buffers in these regions, making them vulnerable to market disruptions.

Speaking at the Future Investment Initiative in Riyadh, Mohammed Al-Jadaan stressed the need for solutions from international bodies like the IMF and G20 to mitigate potential economic shocks. He urged global leaders to remain vigilant to avoid being caught off guard by debt issues.

RelatedPosts

Saudi Arabia’s Hydrogen Economy: Leading the Clean Energy Shift

Saudi Arabia’s Fiscal Stability Amid Low Oil Prices

Saudi Economic Growth Slows Amid Oil Price Drop

Al-Jadaan also discussed the challenge of achieving a “soft landing” for economies as central banks tackle inflation. Recent meetings with the IMF, World Bank, and G20 have underscored the resilience of the global economy and the necessity of addressing sovereign debt, especially in low-income nations.

With global public debt reaching $97 trillion in 2023, the UN has called for urgent reforms. In Africa, the debt burden has intensified, with the number of countries surpassing a 60% debt-to-GDP ratio rising dramatically over the past decade.

The cost of servicing debt has increased, impacting emerging markets severely. Al-Jadaan noted that many low-income countries now spend more on debt service than on essential services like healthcare, education, and climate action combined. He called for collective global efforts to find a solution to this pressing issue.

Tags: Emerging MarketsG20Global DebtIMFSovereign Debt
Share61Tweet38Share11Share

© 2025 Copyright, Saudi Business News

No Result
View All Result
  • Home
  • Business
  • Economy
  • Finance
  • Investment
    • PIF
  • Technology
  • Real Estate
  • Events
  • Vision 2030
  • Projects
    • NEOM
    • Qiddiya
    • The Line

© 2025 Copyright, Saudi Business News

Go to mobile version