New borrowing among the world’s richest countries will reach a record $15.8 trillion this year, according to the 38-member Organization for Economic Cooperation and Development (OECD). The nations’ total debt will reach $56 trillion this year, up from $54 trillion in 2023, it projected.
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community. Some of the most significant challenges include soaring inflation rates, escalating interest rates, looming fears of a recession, and a tangible decrease in revenues for many sectors…
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.