World Bank : The debt of developing countries rises to $1.8 trillion

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Developing countries need more investment in order to grow faster. China adds 8% of China’s debt to global debt: World Bank

The debt of developing countries has risen to $7.8 trillion, the World Bank reports. China’s debt has also increased, according to the report.

According to the International Debt Statistics Report, the countries in which debt is rising are also contributing to the world’s total debt. China’s debt levels have risen 15 percent. As a result, the world’s total debt has increased.

Argentina’s facing financial crisis has seen an 86 percent increase in the siege by multilateral lenders due to IAMFA loans.

According to the World Bank, if the top 10% of borrowers are excluded, then only a four percent increase in global debt. Borrowers’ debt in Sub-Saharan Africa has increased by 8%. Over the last 10 years, the external debt of more than half of the countries in the region has doubled.

World Bank Group President David Malpas said that developing countries will need more investment to develop faster and through this, they can achieve their own development goals.