Debt burden of least developed countries rises to record US$744bn in 2019 – World Bank

GLOBAL – Least developed countries owed external creditors a total of US$744 billion in 2019 according to World Bank’s latest edition of the International Debt Statistics (IDS). The report which was released in response to an urgent need for greater debt transparency portrays a worrying picture of the debt situations in countries with the least ability to honor their obligations. According to the World Bank, the pace of debt accumulation for these countries was nearly twice the rate of other low- and middle-income countries in 2019. World Bank said the…

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