Developing Countries’ External Debt Surges to Record $9.4 Trillion

Developing Countries’ External Debt Surges to Record $9.4 Trillion Private creditors returned in force and bond markets reopened, but poorest countries’ borrowing faced highest costs in decades. WASHINGTON, Nov. 5, 2026—External debt of developing countries jumped 5.5% to a record $9.4 trillion in 2025, the fastest pace since 2021 and about four times the 2022–24 average, according to the World Bank Group’s International Debt Report 2026. Access to international finance has improved, but the price of finance has not, and high debt burdens in the poorest countries threaten to crowd out essential investments in people. https://www.worldbank.org/en/news/press-release/2026/11/05/developing-countries-external-debt-surges-to-record-9-4-trillion