According to a new report by the UN Global Crisis Response Group, entitled A World of Debt, a total of 52 countries almost 40 per cent of the developing world are in serious debt trouble, Mr. Guterres said, backing calls for them to receive urgent fiscal relief.
Last year global public debt reached a record $92 trillion, of which developing countries shoulder 30 per cent a disproportionate amount, the UN chief stressed.
He warned that 3.3 billion people suffer from their governments need to prioritize debt interest payments over essential investments in the Sustainable Development Goals or the energy transition.
And yet, because these unsustainable debts are concentrated in poor countries, they are not judged to pose a systemic risk …
Read the full article at: https://news.un.org/en/story/2023/07/1138597