Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
Men's Knit Cardigan Buy Now
Aldo Legoirii Tote Buy Now
Amazon Essentials Women's Heeled Sandals Buy Now
Echo Dot (3rd Gen) Charcoal Buy Now
Gildan Crew T-Shirts Buy Now
Jileen Straw Bag Buy Now
HP Touchscreen Flagship Laptop for Business Buy Now
Women's Floral Button-Down Shirt Buy Now
Mens Fashion Henley Shirt Classic Buy Now
Men's Ecosmart Fleece Sweatshirt Buy Now
LOVEVOOK Women Purses and bags Buy Now
Women's Boho Palazzo Pants Buy Now
Men's Flat Front Trousers Buy Now
GoPro Fusion CHDHZ-103-FW 360 Buy Now
Blackview MP60 Mini PC Intel Buy Now
Womens Fuax Leather Skirt Buy Now
CHRLEISURE Leggings with Pockets for Women Buy Now
KODAK PIXPRO AZ255-BK 16MP Vlogging Camera Buy Now
Women's Short Sleeve Basic Slim Fit Tops Buy Now
THE GYM PEOPLE Joggers Buy Now
MoreBack to News Headlines
Global debt hit record US$97T last year, 30% owed by developing nations: UN

Global debt hit record US$97T last year, 30% owed by developing nations: UN

Global News
Tuesday, June 4, 2024 4:39 PM GMT

In a report released Tuesday, the United Nations said that high interest payments are outstripping growth in essential public spending around the world.

Global public debt rose to a record US$97 trillion last year, the United Nations reported Tuesday, with developing countries owing roughly one-third of that — crimping their ability to pay for basic government services like health care, education and climate action.

U.N. Trade and Development, formerly known as UNCTAD, said the value of money owed by governments rose by $5.6 trillion from 2022. In its report entitled “A World of Debt,” the agency said high interest payments are outstripping growth in essential public spending.

“Developing countries must not be forced to choose between servicing their debt or serving their people,” the report said. “The international financial architecture must change to ensure a prosperous future for both people and the planet.”

In the developing world, which is home to 3.3 billion people, 1 in 3 countries spends more on paying interest than on programs in “critical areas for human development” such as health care, education and climate action.

In 2023, public debt in developing countries hit $29 trillion, or about 30% of the total worldwide – an increase from a 16% share in 2010, the U.N. office said.

UN Trade and Development said “cascading crises” and the sluggish and uneven performance of the global economy underpinned the rapid increase in global public debt, which is rising at twice the rate in developing countries than in richer ones.

The United States, according to the report, led the world with more than $33 trillion in public debt last year, trailed by China at nearly $15 trillion and Japan at $10.6 trillion.

Egypt, Mexico, Brazil and India joined China among developing countries with the most public debt.

Read full story on Global News
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Travel around France could be hit as air traffic controllers strike

Ryanair was among airlines that announced widespread disruptions, saying in a statement it canceled more than 400 flights affecting 70,000 passengers.

Russia won’t back down in Ukraine war, Kremlin says after Trump-Putin call

Putin also emphasized the need to resolve the situation around Iran and in the broader Middle East “exclusively by political and diplomatic means,” the Kremlin aid said.

More than 1,000 earthquakes in 2 weeks leave Japanese islanders sleepless

Those living on the remote islands anxious and fearful of what might happen, and the national weather service has no idea when the quakes will end.

Israeli strikes kill 94 in Gaza as work continues toward elusive ceasefire

The toll from strikes emerged as more Palestinians were killed in near-daily shootings while trying to obtain aid that have led to over 500 deaths since May.

Kilmar Abrego Garcia tortured in El Salvador prison, U.S. court filings say

According to court documents, Abrego Garcia suffered sleep deprivation, beatings, inadequate nutrition and psychological torment during his stint at the notoriously brutal prison.

Man faces France’s 1st-ever ‘incel’ case for alleged plot to attack women

This is the first time France's National Anti-Terrorist Prosecutor's Office has taken on a case linked to the 'incel' or involuntary celibate movement.

American tourist vanishes on vacation in Turks and Caicos

Brian Tarrance, 51, was last seen on security footage leaving his rental home in Grace Bay, Providenciales, and walking toward the downtown area.

Lucy Letby, U.K. nurse convicted of murdering babies, may face more charges

Letby is already serving life in jail and will never be released after being found guilty of murdering and attempting to murder newborns.

Netanyahu says ‘no Hamas’ in postwar Gaza as U.S. proposes ceasefire

Trump said a 60-day period would be used to work toward ending the conflict — something Israel says it won't accept until Hamas is defeated.

U.S. stops some arms shipments to Ukraine as Kyiv expresses disappointment

As Washington has distanced itself under U.S. President Donald Trump from Ukraine's war efforts, a bigger onus has fallen on European countries to pressure Russia.

Iran will suspend cooperation with UN nuclear watchdog, president orders

The order by Iranian President Masoud Pezeshkian, however, included no timetables or details about what that suspension would entail.

Heathrow fire caused by preventable technical fault known for years: report

Europe’s busiest air hub shut for about 18 hours in March after a fire knocked out one of the three electrical substations that supply Heathrow with power.

Europe’s ‘exceptional’ heat wave closes schools, prompts health alerts

Europe is heating up at twice the global average speed and is the world's fastest-warming continent, the European Union's Copernicus Climate Change Service has said.

Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
52 Palestinians in Gaza are killed by Israeli airstrikes or shot dead while seeking aid

The 21-month war has left much of Gaza's population of over 2 million reliant on outside aid while food security experts warn of famine.

Trump announces 30% tariffs against EU, Mexico effective Aug. 1

With Saturday’s letters, Trump has now issued tariff conditions on 24 countries and the 27-member European Union.

Investigation into Air India plane finds fuel was cut off moments before crash

India’s civil aviation minister, Kinjarapu Ram Mohan Naidu, said the report’s findings were preliminary and one should not 'jump into any conclusions on this.'

Trump says U.S. selling weapons to NATO to give to Ukraine

Secretary of State Marco Rubio said Friday that some of the U.S.-made weapons that Ukraine is seeking are deployed with NATO allies in Europe.

Happy Birthday, Moo Deng: The world’s beloved pygmy hippo turns 1

Moo Deng went viral on TikTok shortly after she was born when her keeper began sharing sweet videos of her going about her day.

Flash floods like in Texas are the U.S. top storm-related killer. Here’s why

The flash flood that tore through central on Friday is a grim example of why flash floods are the nation’s deadliest weather hazard, killing at least 24 and leaving many missing.

Ukraine says it struck a Russian air base as Russia sent hundreds of drones into Ukraine

Ukraine hit a Russian air base in Voronezh, targeting jets and a bomb depot, while Russia launched 322 drones overnight. Residents are taking shelter underground.

Calgary man injured in Russian drone and missile attack in Ukraine

A Calgary man, who has been working to deliver humanitarian aid in Ukraine since 2022, is in hospital in Kyiv, after being injured in a Russian attack on Canada Day.

Hamas says ‘positive’ response to Gaza ceasefire proposal sent to mediators

It was not immediately clear if Hamas’ statement meant it had accepted the proposal from U.S. President Donald Trump for a 60-day ceasefire.

Cause of death revealed for tourist who fell near active Indonesian volcano

Juliana Marins, a 26-year-old Brazilian tourist, was found dead on Mount Rinjani after she slipped and fell off a cliff.

U.K., N.Z. tourists killed by elephant in Zambia during walking safari

'They were moving to other camps when the elephant charged from behind. We are really sorry that we have lost our visitors,' police Commissioner Robertson Mweemba said.

Mexican boxer Julio César Chávez Jr. arrested by ICE for deportation

The arrest came only days after the former middleweight champion lost a match against influencer-turned-boxer Jake Paul.

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us