MIN READSep 20, 2022 | 21:33 GMT
A view of Argentine pesos during a withdrawal from an ATM in Buenos Aires on July 2, 2022, before Argentina's former Economy Minister Martin Guzman announced his resignation.
(Photo by JUAN MABROMATA/AFP via Getty Images)
Intensifying financial distress in developing economies is increasing the risk of economic and political instability and creating more pressure for China to engage in debt relief negotiations. Signs of financial distress are particularly pronounced in lower-income countries, such as Ghana, even though several middle-income countries, such as Sri Lanka, have also been affected. A large number of countries, including Bangladesh, Ghana, Pakistan and even Serbia, have in recent months requested financial assistance from the International Monetary Fund.…