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OverviewAPI
Developing nations spent a record $443.5 billion in 2022 to service their public debts, with the poorest countries facing a significant increase in payments and a surge in interest rates. The World Bank's chief economist warned of potential debt distress due to continued high interest rates. The World Bank provided a record $115 billion in new financing for developing countries in 2022, with the aim of helping them refinance their debt.

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