TOKYO -- The world's developing countries were expected to pay a record $150 billion-plus in interest on external debt in 2023 and again in 2024, according to the World Bank, raising concerns over the potential effect on the global economy.
Economy
Developing countries face record interest payments as rates rise
Growing debt burden casts shadow over global economic outlook
Drivers push auto rickshaws in a line to buy gasoline from a fuel station in Colombo, Sri Lanka, in July 2022 amid an economic crisis. © Reuters
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