Battle-scarred developing nations look for a path out of permacrisis
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Developing countries are frustrated with successive external shocks derailing their efforts to tackle high debt and reform their economies. The IMF and World Bank meetings failed to offer concrete solutions, with demand for emergency loans estimated at $20-50 billion.
Developing country policymakers are frustrated with successive external shocks derailing their efforts to tackle high debt and reform their economies. The IMF and World Bank meetings in Bangkok failed to offer concrete solutions. Countries like Zambia and Sri Lanka are struggling with fiscal balances after debt default. The IMF lowered its 2026 growth forecast for emerging nations to 3.9% from 4.2%. Kenya and Nigeria have been hit hard, with Kenya requesting emergency funds from the World Bank. The IMF estimates demand for emergency loans at $20-50 billion, with the World Bank offering up to $25 billion in crisis response funds. Countries are taking independent and regionally coordinated action, but patience is wearing thin among financial leaders.
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