We develop a sovereign default model with debt renegotiation in which interest-rate shocks affect default incentives through two mechanisms. Under the standard mechanism, higher interest rates tighten the

This paper studies sovereign debt from official lenders empirically and theoretically. We document that official sovereign debt is more than half of the total sovereign debt in emerging markets and tends to flow in during default episodes.

Nigeria, DR Congo, and Niger contribute nearly half of mosquito-borne infection deaths on the continent, the UN health agency has said

Global malaria deaths

Several regions are facing partial blackouts, local outlets report

Russia conducted a new wave of missile and drone attacks on Ukraine on Saturday morning,

Pavel Durov's remarks come after Musk's X was fined over alleged platform rule violations

The EU is unfairly targeting social media platforms

The Israeli PM wants to be absolved of his corruption charges; is he preparing for a clean exit or a fight with the rising opposition?

Israel’s domestic

Critics warn that the new rules could be misused, enabling overreach and intrusion into privacy

Berlin police will be allowed to secretly enter private homes

Brussels and Kiev are covering up for each other instead of "confronting the truth," the Hungarian leader says

The EU is still claiming “the moral high ground” despite

Eric Adams has issued orders opposing divestment and limiting protests at worship sites as Zohran Mamdani prepares to take office

Outgoing New

Ukraine and Poland are in a row about which country's leader should pay the other a visit first

Ukraine’s Vladimir Zelensky’s “crown would not