Many of these countries get their earnings and the foreign currencies they use to pay for imports and debt servicing from their exports, particularly exports of oil and other commodities, and tourism. The fall in their exchange rates and the global collapse in trade, commodity prices, oil prices and international tourism is substantially cutting the incomes of these countries, and thus their ability to obtain foreign exchange. Combined with the impact of closing shops and industries because of COVID 19 and the inability of these economies to borrow internationally, the fall in income puts these countries on a knife edge.
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