Tightening financial and weather conditions across the globe.

 

FELIZ Y SALUDABLE, Tightening financial and weather conditions across the globe. San Jose Costa Rica Sunday, October 23, 2022, rafaelvilagut@gmail.com Is the tremendous global debt default coming? | Business Beyond https://youtu.be/xxBdL8LAAhI
 

More than half of the world’s low-income countries are dangerously close to debt distress – if they’re not there already. The example of Sri Lanka has shown the social unrest that defaulting on debt can trigger, forcing people to go without essential imports.

Average gross government debt in emerging markets is up by almost 10 percentage points since 2019 reaching an estimated 64 percent of GDP by the end of 2021, with wide variations across countries.

Drought is among the causes of hunger and malnutrition, decreasing agricultural output, and poor nutrition. Many deaths caused in children are due to hunger situations, and one in four children faces stunted growth. All this hunger and malnutrition may be responsible for the reduction in agricultural productivity caused due to the drought situations affecting food security. 

 

The global Hunger Index has been accelerating due to under-nutrition and under-5 deaths. Drought has been covering more than 20% of the world's agricultural areas, leading to significantly less food production than what is required for consumption. Drought reduces soil fertility and adversely affects soil biological activity reducing the inherent capacity of the soil to support vegetation. 

 

Recent droughts have greatly affected people’s lives, even beyond causing poverty and hunger. Drought may have substantial financial consequences across the globe it may cause a severe impact on the world economy.

 

On the other hand, recent floods in Pakistan, Venezuela, Central America, and the Caribbean, even in the US have greatly affected people’s economies. 

Disasters in Costa Rica due to climate change are more abrupt and frequent. The country is in one of the areas of the world most exposed to floods, droughts and hurricanes and recent rains are responsible for remembering it.  

 

This is when the importance of decarbonization becomes relevant to protect humanity and the planet against climate change and increasingly serious natural events that directly affect people's finances and well-being.  

 

The decarbonization plan that was launched with great fanfare in 2018, by the now former president Carlos Alvarado, has not only been a complete failure, but the country has regressed in terms of environment and energy security.

 

Rich and poor, North and South, East and West, countries at war or peace, we are all affected by tightening financial and weather conditions across the globe; the solution to these substantial problems must come from all 8 billion people.

 

I wish you, subscribers and readers, a happy and healthy start to the week.  

 

MSc. Rafael A. Vilagut-Vega, a mechanical engineer.