Developing Countries Paid Record $1.4 Trillion on Foreign Debt in 2023 This page in:English Español Français العربية Русский 中文

WASHINGTON, Dec. 3, 2024—Developing countries spent a record $1.4 trillion to service their foreign debt as their interest costs climbed to a 20-year high in 2023, the World Bank’s latest International Debt Report shows. Interest payments surged by nearly a third to $406 billion, squeezing the budgets of many countries in critical areas such as health, education, and the environment. https://www.worldbank.org/en/news/press-release/2024/12/03/developing-countries-paid-record-1-4-trillion-on-foreign-debt-in-2023#