Rising debt burdens are threatening the world’s already fragile path to sustainable development, warns the UN ahead of the 4th International Conference on Financing for Development.
Global public debt rose to $102 trillion in 2024. Developing countries accounted for nearly one third of that amount – $31 trillion – and paid a record $921 billion in interests, straining budgets and putting vital public services at risk.
In the latest edition of its “A World of Debt” report series, UN Trade and Development (UNCTAD) notes that public debt in developing countries has grown twice as fast as in richer nations since 2010.
Debt can be a powerful tool to finance infrastructure and improve…