Le International Monetary Fund (IMF) announced global public and private debt of 238% of global gross domestic product (GDP) in 2023.

Poor countries are more vulnerable to excessive global debt. According to Thomas Grjebine, head of the macroeconomics program at the Center for Prospective Studies and International Information (CEPII), “la debt for countries in particular in Africa has, for example, more than doubled in the last ten years. And the problem is that the increase in interest rates by the US Federal Reserve increases the value of the dollar, which automatically increases the debt that African countries have to repay, because they have owed a lot of dollars.” More than half of the underdeveloped countries are in an advanced state of over-indebtedness. This is a real obstacle to the economic development of these countries.