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Economy: 8% increase in the external debt of low- and middle-income countries in 2023

07/01/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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Dans la dernière édition de son Rapport sur la dette internationale, la Banque mondiale a indiqué que la dette extérieure des pays with low and middle income reached a record amount of nearly 9% Trillions of dollars in 2023.

The external debt of low- and middle-income countries is up by 8% compared to 2020 according to the World Bank report. The document mentions that at the end of 2023, the total external debt of all low- and middle-income countries reached a record figure of 8.8 trillion dollars, an increase of 8% compared to 2020.

It should also be noted that the percentage increase in this external debt was twice as large for countries eligible for loans from the International Development Association (IDA), its institution that helps the poorest countries on the planet. According to the World Bank, “interest payments (...) amounted to 406 billion dollars, straining in many countries the budgets that can be allocated to critical areas such as health, education and the

environment.”
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