Developing countries' debt hits record $9.4tn, World Bank reports
Briefing by News4U · First published
The Guardian Business reported that developing countries' external debt rose 5.5% to a record $9.4tn last year, with the poorest countries facing an average interest rate of 8.2% on new borrowing, the highest since the late 1980s. The World Bank said the rising cost of servicing external debt was preventing some governments from investing for the future, and preliminary data for 2026 suggested lending continued at a rapid pace but at continued high interest rates. [1]
Sources
- Debt of poorest countries at record $9.4tn high, World Bank data shows
The Guardian Business · · Full text