Some 3.3 billion people – almost half of humanity – now live in countries that spend more money paying interest on their debts than on education or health
U.N. report crushing debt crisis” is concentrated mostly in poor developing countries
Debt is not judged to pose a systemic risk to the global financial system
“This is a mirage,
3.3 billion people is more than a systemic risk, it is a systemic failure.
In 2022, global public debt reached a record $92 trillion and developing countries shoulder a disproportionate amount
The number of countries facing high debt levels has increased sharply from 22 nations in 2011 to 59 in 2022.