The expected rise in US interest rates will increase financial pressures on developing countries already struggling with a 60% jump in their debt repayments since 2014, a leading charity has warned.
The Jubilee Debt Campaign said a study of 126 developing nations showed that they were devoting more than 10% of their revenues on average to paying the interest on money borrowed the highest level since before the G7 agreement to write off the debts of the worlds poorest nations at Gleneagles, Scotland, in 2005.
Five of the countries on the charitys list Angola, Lebanon, Ghana, Chad and Bhutan were spending more than a third of government revenues on servicing debts.
Developing country debt moved down the international agenda followi…
Read the full article at: https://www.theguardian.com/business/2018/mar/18/developing-countries-risk-from-us-rate-rise-jubilee-debt-campaign-warns
