Developing countries’ debt hits record $9.4tn, World Bank data shows
Debt owed by developing countries reached a record $9.4tn last year, according to World Bank data, while high interest costs are limiting investment in the poorest countries.Debt owed by developing countries rose to a record $9.4tn last year, according to World Bank data. The poorest countries are paying their highest interest rates since the late 1980s, and the cost of servicing external debt is preventing them from investing for the future. The UK government is preparing to champion a new drive on debt during its G20 presidency next year.
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