Global Public Debt Reaches Record $97 Trillion, Developing Nations Struggle

UN report reveals that high interest payments are outpacing essential public spending, impacting basic services in poorer countries.

Developing countries owe nearly one-third of the global public debt, totaling $29 trillion.
High interest payments are limiting spending on health care, education, and climate action.
Public debt in developing countries has increased from 16% of the global total in 2010 to 30% in 2023.
The United States leads with over $33 trillion in public debt, followed by China and Japan.
Calls for international financial reforms are growing to alleviate the burden on developing nations.