Foreign Affairs Discussion Group: A World of Debt

Countries, like people, borrow for many reasons—some prudent, others not. Loans may be used to invest in increased productivity—but if they are spent on vanity projects, wars, or unneeded military spending, they weaken economies. These days, both rich and poor countries have carelessly piled on huge debts. While most rich countries can absorb the risks, poor countries cannot. We will discuss the magnitude of this global phenomenon, its causes and effects, and possible solutions.

About the facilitator: David Cheney is an international economics writer, instructor, and trainer for international and educational institutions. He has held a variety of positions at the International Monetary Fund and has provided communications and writing support for a number of multilateral institutions including the World Bank, Inter-American Development Bank and the Asian Infrastructure Investment Bank. David has served as an adjunct professor of Global Economics and Writing at NYU and currently runs two foreign affairs discussion groups at the Manhattan JCC and Scarsdale Adult School.

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