💨 Abstract

The UN Development Programme has issued a warning about the escalating debt crisis in the world's poorest economies. Debt servicing is consuming a growing portion of revenues, compromising development spending. A new multilateral debt relief deal is suggested to address this issue, as 56 developing nations, up from a decade ago, have interest payments on debt exceeding 10% of government revenue.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖