The World Bank stated on Wednesday that the gap between the cost of servicing debt in developing countries and new financing reached its highest level in over 50 years, amounting to $741 billion between 2022 and 2024. The bank urged countries to use more flexible terms of global financing to arrange their affairs.
World Bank Reports Record Debt Gap for Developing Countries
The World Bank announced that the debt servicing cost gap for developing countries has hit a 50-year high of $741 billion, urging nations to adopt more flexible financing terms.
