Due to War and Inflation... IMF Bailout Hits Record High of $151 Billion
Major Borrowing Countries: Ukraine, Egypt, Argentina
As countries around the world face inflation and war, the International Monetary Fund (IMF) has reached a record high in bailout amounts.
Bloomberg News reported on the 18th (local time) that an analysis of debt statistics released by the IMF showed that the credit balance in February reached a record high of approximately $151 billion (202.0682 trillion KRW).
This is due to countries securing borrowing costs amid high interest rates and the IMF expanding bailout support to respond to geopolitical crises such as wars. The main borrowers of IMF bailouts were Ukraine, Egypt, and Argentina.
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Masood Ahmed, former head of the IMF's Middle East department, said, "The pandemic is receding into the past, but countries are still experiencing pressure and tension," adding, "The world has become geopolitically more unstable."
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