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18 Dec 2023

World Bank: High Debt Levels Risk Developing Countries' Crisis

The World Bank's International Debt Report [indicates](https://www.theguardian.com/business/2023/dec/13/world-bank-debt-levels-countries-crisis) that due to the sharpest rise in global borrowing costs in four decades, debt repayments of developing countries in 2022 soared to [$443.5bn](https://www.theguardian.com/business/2023/dec/13/world-bank-debt-levels-countries-crisis). This uptick in servicing costs is diverting crucial funds from health, education, and climate crisis mitigation efforts.