Developing nation debt has more than doubled in the past decade and left more than 50 countries facing a repayment crisis, according to a campaign group.
Data from the Jubilee Debt Campaign shows that even without taking full account of the impact of the coronavirus pandemic, there has been a sharp jump in the number of poor countries in debt distress since 2018.
Debt relief was provided for poor countries at the end of the 1990s and in the mid-2000s, but the JDC said external debt payments as a share of government revenue had more than doubled from 6.7% to 14.3% since 2010 and were at their highest level since 2001.
The International Monetary Fund and the World Bank have both warned of the risks of a new debt crisis and have been urgin…
Read the full article at: https://www.theguardian.com/world/2020/aug/16/debt-in-developing-countries-has-doubled-in-less-than-a-decade
