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World Bank’s Latest International Debt Report

Published on December 15, 2023
Current Context: The World Bank's latest International Debt Report (IDR) released on December 13, 2023, paints a picture of a challenging debt landscape for developing countries.
World Bank’s Latest International Debt Report
  • Here are some key takeaways:
    • Record High Debt Service Payments: Developing countries spent a record $443.5 billion servicing their external public and publicly guaranteed debt in 2022. This represents a significant increase from previous years and is driven by rising interest rates, which are the highest they've been in four decades. This situation puts a strain on already tight budgets and could hinder development efforts.
    • Debt Accumulation: Overall, external debt stocks in low- and middle-income countries rose to $9.3 trillion at the end of 2022. This represents a 7.5% increase from the previous year, reflecting a continued reliance on borrowing to finance development and cope with the pandemic's economic fallout.


Q.1 What was the record amount spent by developing countries on servicing external public debt in 2022?
a. $343.5 billion
b. $443.5 billion
c. $543.5 billion
d. $643.5 billion

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