International Monetary Fund Managing Director Kristalina Georgieva warned of a global debt crisis in the making as central banks raise interest rates to curb inflation, increasing debt-servicing costs for vulnerable nations. “What we see now is a crisis upon a crisis, and possibly a third shock of tightening of financial conditions to come after the pandemic and on top of the war” in Ukraine, Georgieva said at an event hosted by Devex in Washington Tuesday. Surging prices have forced central banks worldwide to tighten monetary policy. In the US, Fed officials pivoted to aggressively lifting rates to tame the hottest ... (full story)