The Baltic View of European Security

The developing world is mired in its worst debt crisis in a generation, with 60 percent of countries facing debt distress according to the International Monetary Fund (IMF). In the post-COVID world, the United States and its traditional allies have not been able to muster the political capital to institute long-term solutions for these developing nations as their debt-ridden economies deteriorate. China has become the largest source of development assistance but is reluctant to work with multilateral development banks and Western creditors to help find sustainable solutions. Former World Bank President David Malpass has been sounding the alarm about this crisis. At Hudson, Malpass will present a new paper outlining constructive and cooperative ways to address these issues. Then he will sit down for a discussion with Senior Fellows Thomas Duesterberg and Joshua Meservey.