Infant mortality rises when sovereign debt defaults drag on, study says

Health Jun, 22 2023
Infant mortality rises when sovereign debt defaults drag on, study says
  • 121
  • 0

JOHANNESBURG: Infant mortality rises and life expectancy falls when sovereign debt defaults are not quickly resolved, study said as negotiations to restructure debts of countries including Zambia, Sri Lanka and Ghana drag on.

In countries that have come out of default within three years since 1900, infant deaths were 2.2 percentage points higher than if they had not defaulted, according to study by researchers Clemens Graf von Luckner and Juan Farah-Yacoub.

In defaults that dragged on for more than three years and lasted for an average of decade, infant mortality was 11.4 percentage points higher, they found. Life expectancy was 1.5 percentage points lower, on average, decade after default, with figure worsening for longer instances.

Covid-19 endemic tipped number of countries including Zambia into default, while rising global interest rates and inflation fuelled by Russia's invasion of Ukraine pushed others over edge.

In response to endemic in 2020, G20 nations launched 'Common Framework' restructuring process. It has been used by Zambia, Ethiopia, Chad and Ghana but has yet to secure resounding success, with China and multiple commercial creditors complicating negotiations.

Published in The Daily National Courier, June, 22 2023

Like Business on Facebook, follow @DailyNCourier on Twitter to stay informed and join in the conversation.

NC Desk
NC Desk https://www.dailynationalcourier.com/author/nc-desk
Daily National Courier is a leading morning English newspaper of twelve pages covering all international and national political developments on 24/7 basis.

More like this
Related

Dengue cases continue to raise across Sindh: Health Deptt

KARACHI: At least 11 dengue fever cases were reported in last 24 hours, quoting Sindh Health Department data. According to Health Department report, majority number of cases i...

Healthcare measures stressed to stay safe during Eid celebrations

Lahore: Dr. Javed Akram, Caretaker Health Minister of Punjab has advised the people to take precautionary measures during Hajj and Eid-ul-Azha to stay safe from Covid-19, as t...

Hairy moles may contain cure for baldness: Study

ISLAMABAD: Researchers may have discovered elusive cure to baldness in an unlikely place, those unsightly hairs that sometimes grow out of skin moles. Researchers found that s...

Childhood blindness: AI programme may help detect condition that causes it

ISLAMABAD: Severe retinopathy of prematurity can cause visual impairment and blindness in children. Condition is one of leading cause of childhood blindness. Although screenin...
Need Help? Chat with us