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Developing countries face record interest payments as rates rise

TOKYO -- The world's developing countries were expected to pay a record $150 billion-plus in interest on external debt in 2023 and again in 2024, according to the World Bank, raising concerns over the potential effect on the global economy.

The figure amounts to about a third of the over $480 billion these countries are expected to pay in debt servicing costs in 2024.

Read more on asia.nikkei.com