Talked about

 

global insecurity as a byproduct of Russia's war in the Ukraine as well not that long ago and now here we are...

Sri Lanka is the first domino to fall in the face of a global debt crisis

"The south Asian country is the first to buckle under economic pressures compounded by Russia’s war on Ukraine, but it won’t be the last."

"But as the IMF and its sister organisation, the World Bank, know full well, this is about more than the mismanagement of an individual country. They fear Sri Lanka is the canary in the coalmine."

"Across the world, low- and middle-income countries are struggling with a three-pronged crisis: the pandemic, the rising cost of their debt, and the increase in food and fuel prices caused by Russia’s invasion of neighbouring Ukraine."

"David Malpass, the World Bank’s president, explained his concerns at the organisation’s spring meeting last month. “I’m deeply concerned about developing countries,” Malpass said. “They are facing sudden price increases for energy, fertiliser and food, and the likelihood of interest rate increases. Each one hits them hard.”

"The UN has sought to quantify the problem. Its trade and development arm, UNCTAD, said in a recent report that there were 107 countries facing at least one of three shocks: rising food prices, rising energy prices or tighter financial conditions. All three shocks were being faced by 69 countries – 25 in Africa, 25 in Asia and the Pacific, and 19 in Latin America and the Pacific."

"Richard Kozul-Wright, director of the globalisation and development strategies division at UNCTAD, said: “Countries have domestic problems but most of the shocks have nothing to do with those. The pandemic and the war had nothing to do with these countries, but have led to a huge increase in borrowing.”

"The World Bank said almost 60% of the lowest-income countries were in debt distress or at high risk of it before Russia’s invasion of Ukraine, while the cost of servicing borrowing is rising steeply, particularly for those countries that have amassed debts in foreign currencies. The war in Ukraine has led to investors seeking out the haven of the US dollar, pushing down the value of emerging market currencies. Higher interest rates from the Federal Reserve, America’s central bank, have compounded the problem.

(Well..."The war in Ukraine has led to investors seeking out the haven of the US dollar", almost like it was somebodys plan all along or something.)

"Emerging market crises are nothing new, but Kozul-Wright said the international community was ill-prepared to deal with a looming debt problem. “The system can only deal with these problems country by country,” he said. “But these are systemic issues and currently there is no way of dealing with them systemically.”

"That may prove costly. Sri Lanka is the first country to buckle under the mounting economic pressures triggered by the war in Ukraine. It is unlikely to be the last."

You're watching the old economic system be destroyed so that the new economic system spoke about in the book of Revelation  (Revelation 13:18) can be created. It's happening right in front of your eyes, if you have eyes that see that is.

Here's what I wanna know...

What happened to the "All the crisies are gonna get magically better and then get worse than they are now crowd? Where did that contingent of people disappear to? 

Quite frankly they seemed to have vanished...

I love you baby.