Report highlights the surge in global public debt, aggravated by cascading crises in recent years and its disproportionate burden on developing countries.

Global Public Debt (GPD)

• High Public Debt: GPD reached a record high of $102 trillion in 2024.
  • GPD could increase to 100% of GDP by end of decade if current trends continue. 
• Disproportionate Debt Growth: Although developing countries accounted for less than one third – $31 trillion – it has grown twice as fast as in developed economies since 2010.
  • In stark contrast among developing economies, Asia and Oceania hold 24% of global public debt, followed by Latin America and the Caribbean (5%), and Africa (2%).
• High Borrowing Costs: Developing countries face higher borrowing costs – two to four times higher than those for USA.
  • A record 61 developing countries allocated 10% or more of government revenues to interest payments.
• Impact: Widening development financing gaps, declines in aid flows, constraining spending in critical areas like education and health.