World Bank International Debt Report 2024

Current Context: The World Bank International Debt Report 2024 was released on December 3, 2024 by the World Bank.

• This comprehensive report provides an analysis of the external debt situation for low- and middle-income countries, including India.
• Report Highlights:
• India's External Debt: The report states that India's total external debt increased by $31 billion to $646.79 billion in 2023.
• Interest Payments: Interest payments on this debt rose from $15.08 billion in 2022 to $22.54 billion in 2023.
• Debt Composition: Long-term debt stocks increased by 7% to $498 billion, while short-term debt stocks slightly declined to $126.32 billion.
• Export Metrics: The external debt stock as a percentage of exports was 80%, and debt servicing accounted for 10% of exports in 2023.

Question:

1 What was the total external debt of India, as per the World Bank International Debt Report 2024?

• A) $615.79 billion
• B) $626.79 billion
• C) $646.79 billion
• D) $666.79 billion

Answer: C) The report highlights that India’s total external debt increased by $31 billion to $646.79 billion in 2023.