Global Debt Dynamics and Rising Interest Rates

This chapter explores the staggering global debt levels, currently at around $300 trillion, and their implications due to low borrowing costs. It highlights how anticipated interest rate hikes could significantly increase global interest obligations, potentially reaching $20 trillion by 2026, affecting governments, households, and corporations worldwide. The discussion emphasizes the vulnerabilities of nations like Lebanon, Nigeria, and Ghana, and examines the financial exposure of wealthier countries amid rising economic challenges.