Jan 14, 2021 09:43 UTC

Around the globe, the coronavirus pandemic is racking up a mind-blowing bill: Trillions of dollars in lost tax revenue, ramped-up spending and new borrowing set to burden the next generation with record levels of debt. In the direst cases – low- and middle-income countries, mostly in Africa and Latin America, that are already saddled with backbreaking debt – covering the rising costs is transforming into a high-stakes test of national solvency.