“Developing nations spent record $443.5 billion on public debt in 2022, World Bank says”
December 15, 2023
“Developing countries paid a record $443.5 billion in 2022 to service their public debt as global interest rates surged, according to the World Bank… The cost of servicing debt for the world’s 24 poorest nations could surge by as much as 39% in 2023 and 2024, according to the World Bank’s latest International Debt Report released Wednesday.
“Record debt levels and high interest rates have set many countries on a path to crisis,” said Indermit Gill, the World Bank Group’s chief economist and senior vice president for development economics…”
https://www.cnbc.com/2023/12/13/developing-nations-spent-record-high-on-debt-in-2022-world-bank.html