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Developing Countries' Record Debt Servicing
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Record $443.5 billion spent by developing countries on debt servicing, draining funds for critical needs. Poorest countries face increased payments and rising interest rates, raising concerns of debt distress. The World Bank calls for coordinated action to address debt sustainability and private capital withdrawal from developing countries.
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How might the record debt servicing impact the economic development and infrastructure projects in developing countries?
What measures can be taken to alleviate the financial burden on debtor countries and improve their debt sustainability?
What role do private creditors and multilateral financial institutions play in addressing the debt crisis in developing countries?
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