Developing Countries Face Mounting Debt Crises and Turn to IMF for Bailouts

Several developing countries like Egypt, Ethiopia, Ghana, Kenya, Lebanon, Pakistan, Sri Lanka, Tunisia, Ukraine, and Zambia are facing debt crises due to high interest rates, investor risk aversion, and ballooning debt.

Many have turned to the IMF and World Bank for bailout loans and debt restructuring under the G20 Common Framework.

Progress has been mixed - some like Zambia have reached deals, others like Lebanon remain in default, and outcomes of elections and domestic reforms will impact future access to financing.

Ukraine faces rebuilding costs of over $1 trillion after the Russian invasion and relies heavily on international aid.

Citizens in countries like Tunisia and Sri Lanka continue to face shortages, economic hardship, and protests despite restructuring efforts.