Writer: Ahmad Awad
The sovereign debt crisis in the Arab region is one of the top economic challenges troubling governments and societies alike. Public debt levels are increasing at an unprecedented rate, and many countries face significant difficulties in meeting their financial obligations without resorting to austerity measures and their impact on essential services that burdens the most vulnerable groups. This situation results from structural problems in public finance management and the increasing reliance on external and domestic borrowing as temporary solutions to escalating financial crises.
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