Developing countries at risk from US rate rise, debt charity warns

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Jubilee Debt Campaign says 126 nations spend more than 10% of revenues on interest

  • Larry Elliott
  • The Guardian

The expected rise in US interest rates will increase financial pressures on developing countries already struggling with a 60% jump in their debt repayments since 2014, a leading charity has warned.

Dest 2bThe Jubilee Debt Campaign said a study of 126 developing nations showed that they were devoting more than 10% of their revenues on average to paying the interest on money borrowed – the highest level since before the G7 agreement to write off the debts of the…

Five of the…

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