Higher dollar interest rates and the unprecedented rise of the dollar itself are causing payment difficulties for a growing number of low-income countries. Moreover, the costs of a sovereign default appear to be much higher than previously assumed. Part of the solution lies with the Multilateral Development Banks, argues Ruurd Brouwer, CEO of TCX.

Please read his full op-ed here, as published by the ‘Financieele Dagblad’, the main financial newspaper in The Netherlands (in Dutch). You can also read a PDF version here.