Multilateral institutions are organisations formed by three or more countries. They aim to promote cooperation on global issues. Examples include the United Nations and the World Trade Organization. These institutions address challenges like trade, security, and environmental concerns. They facilitate dialogue and decision-making among member states. Their role is crucial in fostering international relations and ensuring collective action for global stability.
In 2023, developing nations faced an unprecedented challenge as they collectively spent $1.4 trillion on servicing foreign debt. This surge was driven by soaring interest costs, which reached...
