Argentina
The country is facing economic turmoil with a weakened currency, critically low reserves, and bonds trading at a low price. Investors are concerned that the government may renege on its debt with the International Monetary Fund.
Ukraine
Russia's invasion has led to fears of debt restructuring, with bond payments due in September. The government may follow the state-run Naftogaz in asking for a debt freeze.
Tunisia
The country has a high public sector wage bill, and a significant budget deficit, and is struggling to secure an IMF program due to the president's push to strengthen his grip on power and the labor union's opposition.
Ghana
The country is facing high levels of debt, a weakened currency, and high inflation rates, with an almost 85% debt-to-GDP ratio.
Egypt
The country is struggling with a 95% debt-to-GDP ratio, a significant exodus of international cash, and a weakened currency, despite seeking help from the IMF.
Kenya
The country is spending a significant amount of its revenue on interest payments, has lost almost half of the value of its bonds, and currently has no access to capital markets.
Ethiopia
The country plans to receive debt relief under the G20 Common Framework program but is currently facing an ongoing civil war.
El Salvador
The country's decision to make bitcoin legal tender has caused investors to lose trust, leading to significant bond discounts.
Pakistan
The country recently struck a crucial IMF deal, but still faces a high energy import price, a low foreign currency reserve, and a need to cut spending.
Belarus
The country is facing Western sanctions and economic turmoil due to its support of Russia in the Ukraine campaign.
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