Impacting primarily the most vulnerable countries, or those least integrated into world trade, by increasing their debt burden, this high level of uncertainty could also lead to a slowdown in activity. The combination of higher financing costs and declining growth is likely to profoundly unbalance sovereign indebtedness, as well as markets, which are at historically high levels.

For the most fragile countries, these challenges come on top of declining official development assistance (ODA) and, for some of them, doubts about the sustainability of diaspora revenues.

In 2024, all eyes will once again be on the USA, as Americans will be among the half of the world’s population called to the polls this year. But in contrast to many other countries, their choice in the presidential election in November is likely to affect much of the world!