Oxfam says Emerging Economies Face $220 Billion in Budget Cuts Amid Debt Crisis

Earlier, Oxfam and other assistance and advocacy organisations urged foreign creditors to forgive the debts of developing nations experiencing economic distress.

The research also stated that healthcare spending is outpacing debt servicing payments for the poorest nations by a ratio of four to one.

Prior to this, longer-dated US government yields hit highs not seen since the financial crisis, in part due to positive labour market data.