Countries including Sri Lanka, Lebanon, Zambia, Suriname, Afghanistan, Sudan, Ethiopia and Pakistan are struggling with economic problems.
Unable to repay the loan!
The people of this country are engaged in protests against high inflation and the ever-increasing food prices. A similar situation prevails in many South American countries. In an environment where these countries are unable to repay the loans taken from other countries, it is a challenge for these countries to borrow for further imports.
Food shortage, fuel shortage! – Explosive protests
Inflation is also very high in countries like Turkey. Many South American countries are struggling with food shortages and fuel shortages. Increase in fuel prices and increase in food prices are considered to be the main reasons for this. Due to the impact of Russia-Ukraine war and the impact of Covid in 2020, 2021, the economy and business are affected all over the world.
The value of currencies equivalent to the dollar has fallen sharply!
Various effects have been caused by the continuously increasing fuel prices in European countries as well. Hence the economy and business of these countries are severely affected. The currencies of these countries have faced a sharp decline against the dollar. Economic problems have led to major problems in attracting new investments and creating jobs.
Uncontrollable increased inflation!
In countries like Turkey, inflation has run rampant at 40%. Britain has recorded an unprecedented 11% inflation. Although inflation is high in countries including the US, the country has so far weathered the situation due to the strength of the dollar. However, the economic slowdown in the US is expected to affect job opportunities and investment. Even the biggest companies like Meta and Amazon have been forced to downsize.
Hand in hand Indian and Chinese economies
Only in a few countries, including India and China, is economic growth now yielding at least some support and sustaining employment opportunities and incomes without falling sharply. Overall, many African countries and many South American countries are currently in a very complex economic crisis. Similarly in many Asian countries like Bangladesh and Nepal the problem is increasing. UN, World Bank and IMF Various organizations have indicated that economic problems are increasing all over the world.
– Ganapathi Subramaniam