This paper assesses the dynamics of developing and emerging countries external debt and financial vulnerability. It is argued that, although current account positions do have a role in accumulating external liabilities, developing countries' vulnerability primarily lie in their increasing...

Low-income developing countries (LIDCs) are greatly affected by the coronavirus pandemic, and sovereign debt has become a major concern. The International Monetary Fund (IMF) already classified 44% of LIDCs as being in debt distress or at risk of it before the Covid-19 crisis began. One major...