Ethan Brown Pheels

The phenomenon of external debt has been a central topic in discussions about economic development, social welfare, and global financial stability, particularly concerning the Global South. This vast region, comprising countries in Africa, Latin America, Asia, and Oceania, has grappled with the complexities and consequences of relying on external borrowing from international creditors, private investors, and multilateral institutions.Origins and Evolution of External DebtExternal debt generally occurs when states or businesses in emerging economies seek loans from foreign sources to support development initiatives, cover budgetary shortfalls, or stabilize unstable economies. The roots of extensive foreign debt can be traced to the…

The extended conflict involving Serbia and Kosovo has significantly influenced the political, social, and economic environments of the Western Balkans. Originating from ethnic, historical, and political intricacies, the tension has transitioned from a full-scale war in the late 1990s to a complex post-war scenario. This article delves into the extensive repercussions of this conflict, analyzing both regional and global dynamics, as well as the substantial effects on local communities.Political Ramifications1. International Recognition and Diplomatic TensionsKosovo declared independence from Serbia in 2008, a move Serbia does not recognize. This has led to a persistent diplomatic impasse. Around 100 countries, including the…