Trend · rank 88 of 250

Sovereign creditor fragmentation

Sovereign debt is now owed to bondholders, China and other new lenders as well as the Paris Club, which lengthens restructurings and keeps distressed nations without market access for longer.

Financial StrengthMoney & debtdebt financegeoeconomicsinstitutions

Second pass: Carried forward from the first pass, where it was Creditor fragmentation. Held by all three panel models.

Sensitivity and network position

Rank
88of 250
Sensitivity
8.3rank 147
Breadth
2of 20 scenarios High or above, 1 Critical
PageRank
47.1rank 56
Eigenvector
19.2
Betweenness
12.6
Links
15trends at Moderate similarity or above
Composite
24.9

Attention over three years

How much this trend is read about on Wikipedia and searched for on Google, week by week, set against the typical trend in the list so that what moves every trend at once is taken out. 100 is this trend's own three-year average. The score measures public attention, which is not the same as the strength of the force: a trend can deepen unnoticed, and a news event can lift attention for a fortnight.

Now
111
Over a year
+14%Rising
Over three years
−18%
Peak
15823 Aug 2026
Sources
Bothagreement 0.39
Coverage
12languages · 40 nations

Trailing 4-week average. 100 is this trend’s three-year average.

By language

Wikipedia reading in each language edition where the trend’s pages are read enough to measure (12 of 28). Share is of all the readers counted.

LanguageShareNowOver a yearThree years
English51%101+5%
Spanish12%120+4%
Russian7%70−24%
German7%123+12%
Chinese6%149+70%
Japanese5%87−17%
French5%157+23%
Italian3%105−9%
Arabic1%157+59%
Korean1%64−45%
Vietnamese1%87+53%
Dutch0%186+86%

By country

Google search interest over the three years, as a share of each country’s searching. 100 is the nation where interest is highest. The search terms are English, which favours countries that search in English.

Guinea

Haiti

Togo

Congo

Senegal

Côte d'Ivoire

France

Benin

Cameroon

Mali

DR Congo

Burkina Faso

100

97

89

87

87

76

76

71

68

66

58

53

The 12 highest of 40 nations with a reading.

By region and G20 member

Attention to this trend inside each place, from Google searches made in its countries and Wikipedia reading in the languages mostly read there, averaged where both exist. Each line compares the trend with its own past in that place; the lines do not compare places.

Regions

PlaceRead fromNow90 days1 year3 yearsThree years
North AmericaGoogle in 2 countries + Wikipedia in English101+31%+3%−11%
EuropeGoogle in 5 countries + Wikipedia in German, French, Italian, Dutch136+32%+22%+42%
Indo-PacificGoogle in 5 countries + Wikipedia in Japanese, Chinese, Korean, Vietnamese97−1%−4%−13%
South AsiaGoogle in 1 country105+8%+19%+37%
Gulf and Middle EastGoogle in 2 countries + Wikipedia in Arabic132+47%−2%+48%
AfricaGoogle in 1 country133+39%+67%+18%
Latin America and CaribbeanWikipedia in Spanish120+17%+4%−15%
Russia and EurasiaWikipedia in Russian70+6%−24%−8%

G20 members

PlaceRead fromNow90 days1 year3 yearsThree years
AustraliaGoogle73+23%−51%−16%
CanadaGoogle128+46%+3%+30%
FranceGoogle + Wikipedia in French149+36%+12%+74%
GermanyGoogle + Wikipedia in German107+44%−9%−1%
IndiaGoogle105+8%+19%+37%
ItalyWikipedia in Italian105+21%−9%−32%
JapanGoogle + Wikipedia in Japanese86+5%−23%−18%
South KoreaGoogle + Wikipedia in Korean72+6%−35%−42%
RussiaWikipedia in Russian70+6%−24%−8%
Saudi ArabiaGoogle106+16%−37%−14%
South AfricaGoogle133+39%+67%+18%
United KingdomGoogle115+38%+10%+29%
United StatesGoogle + Wikipedia in English97+34%+3%−17%

Relation to each scenario

A trend relates to a scenario when it changes how likely the scenario is, how hard it lands, or is itself sharply changed by it. Each score is the median of three scores given separately by the members of the model panel.

RelationScenarioFamily
6 · CriticalA creditor agreement releases fiscal capacity S11 ↗Economic and trade
4 · HighA global funding seizure reaches sovereign balance sheets S02Economic and trade
0 · Not relatedCritical trade divides into rival blocs S01Economic and trade
0 · Not relatedA regional war closes a globally important sea route S03Geopolitical and security
0 · Not relatedHybrid coercion ends in an infrastructure blackout S04Geopolitical and security
0 · Not relatedA disputed transfer of power breaks effective government S05Geopolitical and security
0 · Not relatedTwo breadbasket failures trigger a food availability crisis S06Energy, climate and resources
0 · Not relatedA major disaster disables the national economic core S07Energy, climate and resources
0 · Not relatedAn AI deployment step causes abrupt labour displacement S08Technology and infrastructure
0 · Not relatedA cryptographic breakthrough invalidates digital trust S09Technology and infrastructure
0 · Not relatedA novel respiratory pathogen exceeds health surge capacity S10Health
0 · Not relatedA cross-regional market access compact redirects investment S12 ↗Economic and trade
0 · Not relatedA great-power agreement lowers economic security barriers S13 ↗Geopolitical and security
0 · Not relatedA verified Middle East settlement restores access S14 ↗Geopolitical and security
0 · Not relatedCheap firm clean power becomes available at scale S15 ↗Energy, climate and resources
0 · Not relatedA validated farming package raises water-efficient output S16 ↗Energy, climate and resources
0 · Not relatedAI-directed research produces a reproducible discovery step S17 ↗Technology and infrastructure
0 · Not relatedA public service platform reaches inclusive operation S18 ↗Technology and infrastructure
0 · Not relatedAffordable preventive treatments reduce chronic illness S19 ↗Health
0 · Not relatedA live outbreak proves rapid distributed pandemic defence S20 ↗Health

Similarity = 0.3 × shared tags (Jaccard) + 0.3 × likeness of scenario profiles (cosine) + 0.3 × likeness of names and descriptions (TF-IDF cosine) + 0.1 if in the same capability domain, cut into seven levels at 0.12, 0.22, 0.33, 0.45, 0.58, 0.72. Shown at Moderate and above.

SimilarityTrendThemeRank
4 · HighSovereign debt & interest burdenMoney & debt12
4 · HighConcessional finance scarcityMoney & debt32
4 · HighTax base erosion & coordinationMoney & debt41
4 · HighDollar dependence & payment fragmentationMoney & debt45
4 · HighExternal liquidity buffer requirementsMoney & debt46
4 · HighDomestic capital market deepeningMoney & debt55
4 · HighDevelopment finance as influenceDiplomacy & influence63
4 · HighNon-bank finance growthMoney & debt82
3 · ModerateFiscal rules & budget credibilityState capacity & governance17
3 · ModerateIllicit finance & beneficial ownershipState capacity & governance20
3 · ModerateCentral bank independence under pressureState capacity & governance64
3 · ModerateGlobal South coalitionsDiplomacy & influence72
3 · ModerateBank funding & deposit mobilityMoney & debt101
3 · ModerateSovereign wealth & state capitalTrade, industry & supply chains108
3 · ModerateStablecoins & digital currenciesMoney & debt134