Global Debt Crisis: Poorest Nations Struggle as China Tackles Local Financing

A World Bank report reveals that the 26 poorest nations are facing their worst financial crisis since 2006, with soaring debt levels and vulnerability to disasters. Meanwhile, China's Ministry of Finance is implementing measures to address local government debt issues, impacting broader economic stability. Additionally, the Reserve Bank of India's chief warns of financial stability risks posed by the increasing use of AI in financial services. This episode provides critical insights into global financial challenges and the implications for investors and policymakers.

Sources:
https://timesofindia.indiatimes.com/business/international-business/world-bank-says-26-poorest-nations-in-worst-financial-shape-since-2006/articleshow/114203979.cms
https://finance.yahoo.com/news/chinese-lgfv-bonds-rally-beijing-034505573.html
https://www.cnbc.com/2024/10/14/chinas-ministry-of-finance-tackles-debt-problems-before-economic-challenges.html
https://finance.yahoo.com/news/india-cenbank-chief-warns-against-053505107.html

Outline:
(00:00:00) Introduction
(00:00:44) World Bank says 26 poorest nations in worst financial shape since 2006
(00:03:30) Chinese LGFV Bonds Rally After Beijing’s Funding Pledge
(00:06:11) China's Ministry of Finance is taking aim at local debt problems before tackling broader economic challenges
(00:08:57) India cenbank chief warns against financial stability risks from growing use of AI