EXPLAINER
How the world actually worksSovereign debt
Who lends to governments, and what happens when it goes wrong.
What this covers
- How governments borrow and who buys
- What yields and ratings signal
- Restructuring in practice
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EXPLAINER
What actually happens when a country defaults?
Not a switch being flipped — a slow, negotiated mess.
Money & global power
EXPLAINER
Who owns U.S. government debt?
The answer is less exotic than most viral versions.
Money & global power
EXPLAINER
What is the IMF and why do countries borrow from it?
Lender of last resort — with conditions attached.
Governments & institutions
EXPLAINER
Central banks
The tools, the mandates and the limits.
How the world actually works