UNCTAD – A World of Debt, 2024

The report by UNCTAD – "A World of Debt, 2024" discusses the importance of public debt as a tool for development but also the challenges it poses when it grows excessively, particularly for developing countries. The report highlights the increase in global public debt due to recent crises, which disproportionately affects developing countries by diverting resources from their development goals. The rise in global interest rates since 2022 has further strained public budgets in these countries, with high interest payments surpassing essential expenditures in areas such as health, education, and climate action. In the developing world, one out of every three countries spends more on interest payments than on crucial areas for human development, impacting the lives of 3.3 billion people.