Statsguru: G20 puts the rising debt burden of poorer countries in focus

The World Bank noted in December 2022 that the poorest countries saw their debt treble to $1 trillion over the decade ending 2021

The G20 meeting in India put the rising debt burden of poorer countries in focus.

The amount of loans taken by emerging markets and developing countries relative to their economic heft, as measured by the ratio of their debt to gross domestic product (GDP), is above levels seen before the pandemic, and it is expected to remain elevated even into 2024.

The amount of money they pay out as interest expense relative to GDP is expected to increase