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Articles on Debt

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A Puerto Rican man passes buildings for lease in San Juan, Puerto Rico, on May 16, 2017. Mark Ralston/AFP via Getty Images

Puerto Rico has a plan to recover from bankruptcy — but the deal won’t ease people’s daily struggles

Puerto Rico has reached an agreement to partially settle its historic bankruptcy crisis. But public cuts to education and health care are unlikely to ease, creating ongoing challenges for Puerto Ricans
Visitors take photos near a model of the doll Younghee featured in ‘Squid Game,’ displayed at the Olympic park in Seoul, South Korea, on Oct. 26, 2021. (AP Photo/Lee Jin-man)

‘Squid Game’ highlights plight of South Korean workers sacrificed for nation’s economic gain

Squid Game alludes to anti-worker violence that has permeated South Korean labour history, and reminds viewers of the need to overcome real inequalities.
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‘Similar to ordering a pizza’: how buy now, pay later apps influence young people’s spending

Instead of blaming young people for eating too many avocado toast breakfasts, we need a better understanding of the economy and society they are growing up in.
Nigeria’s economy is struggling to recover from fluctuating oil price, inflation and impact of COVID-19 pandemic. Photo by Pius Utomi Ekpei/AFP via Getty Images

Nigeria’s debt is sustainable, but dangers loom on the horizon

To non-economists, the World Bank ranking Nigeria fifth on the list of its top ten debtor countries is alarming. A deeper analysis shows there is no cause for concern.
Keeping what is not rightfully one’s own reveals a lack of integrity and kindness. Mohammed Asad/Anadolu Agency/Getty Images

What are the ethics of giving back money that doesn’t belong to you?

Charles Schwab mistakenly transferred over $1.2 million to the account of a woman who then kept the money. Did she have a moral obligation to return it? An expert says the answer is not that simple.
A child plays in a street in the port village of Paquitequete near Pemba, northern Mozambique. The region suffered decades of neglect, and major gas projects have failed to deliver local benefits. Photo by Alfredo Zuniga/AFP via Getty Images

Mozambique’s difficult decade: three lessons to inform next steps

The development strategy based on foreign investment in natural resources projects has not delivered economic growth or security. What’s needed is an inclusive vision based on local realities.
How quickly people recover financially from the COVID-19 crisis,or lose the gains they made, may depend on their level of financial literacy. (Shutterstock)

Especially after COVID-19, Canadians need better financial literacy and teachers can help

Teaching financial literacy requires more than adding financial literacy to kids’ school curriculum. It also means offering teachers professional development to ensure they’re equipped.

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