Developing countries' record $1.4 trillion debt service bill squeezes budgets

By Yahoo! Finance   |   1 year ago
Developing countries' record $1.4 trillion debt service bill squeezes budgets

Developing countries faced record foreign debt servicing costs of $1.4 trillion in 2023, with interest expenses hitting a 20-year peak, impacting budgets for crucial sectors. The poorest nations faced the most strain, with interest costs soaring to $34.6 billion.

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