Debt Crisis in Developing Nations: A Growing Financial Storm
Update: 2025-12-03
Description
Developing nations face a dire debt crisis, with a record gap of $741 billion between debt payments and new money received from 2022-2024. Interest payments hit a new high of $415.4 billion in 2024, despite falling global rates. The World Bank warns that even with improving conditions, these countries are still at risk, as new debt comes at a steep price of nearly 10% interest. Many nations are also turning to domestic debt markets, which could limit lending to private businesses and increase refinancing costs. Policymakers are urged to use the current environment to stabilize finances, rather than quickly taking on more external debt.
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