The World Bank’s latest International Debt Report reveals that developing countries spend a record $1.4 trillion on servicing foreign debt in 2023, driven by a surge in interest rates to their highest levels in two decades. Interest payments alone total $406 billion, marking a nearly 30% increase from the previous year. This surge severely impacts … Continue reading Developing Countries Spend Record $1.4 Trillion On Debt Servicing In 2023 – World Bank