TOKYO -- Interest rate hikes by major central banks trying to rein in inflation risk creating further problems for emerging economies already burdened by heavy debt loads, argues Akihiko Nishio, vice president of development finance at the World Bank.
Interview
'Compounding crises' threaten debt-burdened poor nations: World Bank VP
Akihiko Nishio sees urgent need for broad cooperation to help struggling states
Flood victims in Pakistan. Countries already dealing with extreme weather and the pandemic now have to cope with higher interest rates. © Reuters
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