13 Hrs
Source:
الشرق الأوسط
Source: الشرق الأوسط
13 Hrsالشرق الأوسط
Source: الشرق الأوسط
13 HrsReady to play
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The article warns that mounting debt and rising debt-servicing costs, combined with wars, volatile energy markets, and an arms race, could turn financial pressures into a crisis of development and stability, while narrowing countries’ room for political maneuver. Public debt in developing countries reached around $35 trillion in 2025, while the average developing country spent about 9.5% of government revenue on interest—the highest share in 25 years. The article calls for payment suspensions to be put into effect, debt to be restructured, and concessional financing to be expanded, alongside a combination of fiscal discipline and productive investment. Austerity alone, it argues, could weaken growth and public services and deepen tensions. It concludes that the greatest risk is a simultaneous financing crisis in many countries, requiring a swift international response that enables vulnerable countries to fund development without falling back into the debt trap.
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