The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hit

FILE - U.N. logo detail from a press conference background at the United Nations headquarters, Sept. 3, 2013. The United Nations is reporting that global public debt rose to a record $97 trillion last year, with developing countries owing roughly one-third of that crimping their ability to pay for basic government services like health care, education and climate action.

In 2023, public debt in developing countries hit $29 trillion, or about 30% of the total worldwide – an increase from a 16% share in 2010, the U.N. office said. With the cost of borrowing increasing in many parts of the world last year, interest on public debt jumped to $847 billion last year – up 26% from two years earlier, the U.N. office said.urged economies worldwide

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The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hitThe United Nations is reporting that global public debt rose to a record $97 trillion last year, with developing countries owing roughly one-third of that – crimping their ability to pay for basic government services like health care, education and climate action. U.N.
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The UN says global public debt hit a record $97 trillion in 2023. Developing countries are hard hitThe United Nations is reporting that global public debt rose to a record $97 trillion last year, with developing countries owing roughly one-third of that – crimping their ability to pay for basic government services like health care, education and climate action.
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