Washington, Dec 3, 2024 (AFP) - Developing countries face record foreign debt costs: World Bank

NAMPA / AFP

2024-12-03

The world's developing countries paid a record $1.4 trillion to service their debts last year, as high lending rates pushed interest costs to a two-decade high, the World Bank said Tuesday. The poorest countries paid out more than $96 billion to service their debts, the Bank announced in its latest report on international debt, noting that interest costs alone amounted to almost $35 billion. The high cost of servicing foreign debt has pushed man......

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