Developing countries’ debt reaches record $9.4tn, World Bank data shows
World Bank data shows that developing countries’ external debt reached a record $9.4tn last year, while the poorest countries faced their highest interest costs since the late 1980s, limiting investment.World Bank data shows that developing countries’ external debt rose to a record $9.4tn last year. The poorest countries are paying the highest interest rates since the late 1980s, and the cost of servicing debt is preventing investment. The UK government is preparing to champion a new debt initiative during its G20 presidency next year.
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