Developing Countries are Being Choked by Debt: This Could be the Year of Breaking Free

Credit: Asian Peoples’ Movement on Debt and Development (APMDD)

By Ben Phillips
BANGKOK, Thailand, Jan 9 2025 (IPS)

The debt disaster is back. Indeed, the aid agency Cafod reports that developing countries today face “the most acute debt crisis in history”.

At least 54 countries are in a debt crisis – more than double the number in 2010. A further 57 countries are at risk of debt crisis. In the past decade, interest payments for developing countries overall have risen by 64%, and for Africa by 132%.