World Bank report shows developing countries had amassed more than $9 trillion in external debt at end of 2021
Developing countries have amassed high levels of debt that could be difficult to repay as the global economy slows and interest rates rise, the World Bank said in a new report.
By the end of 2021, developing countries owed about $9.3 trillion in external debt, more than twice what they owed in 2010, according to the World Bank’s international debt report released Tuesday. That represents about 26% of their gross national income, up from 22% in 2010. The figures aren’t adjusted for inflation.