World Bank Reports Poorest Countries in Deepest Debt Since 2006

A new World Bank study reveals that 26 low-income countries face significant financial challenges, exacerbated by natural disasters and declining international aid.

The 26 poorest countries, with per capita incomes under $1,145, are more indebted now than at any time since 2006, according to the World Bank.
These nations, largely in sub-Saharan Africa and including countries like Afghanistan and Yemen, have seen their economies shrink since the COVID-19 pandemic.
The average debt-to-GDP ratio for these countries has reached 72%, with half facing debt distress or high risk of it.
Natural disasters, intensified by climate change, have caused annual economic losses averaging 2% of GDP, five times higher than that of lower-middle-income countries.
The World Bank's International Development Association has been crucial in providing financial support, but increased investment and international cooperation are needed to meet development goals.