UN warns of soaring global public debt: a record $92 trillion in 2022
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About 3.3 billion people now live in countries where debt interest payments are greater than expenditure on health or education.
The United Nations Secretary-General António Guterres today presented the report “A world of debt. A growing burden to global prosperity” and issued a grave warning as global public debt reached an all-time high of $92 trillion in 2022.
This five-fold surge in public debt levels since 2000 demands immediate action to tackle the escalating crisis affecting developing countries in particular.
The UN Secretary-General underlined: “On average, African countries pay four times more for borrowing than the United States and eight times more than the wealthiest European economies. A total of 52 countries – almost 40 percent of the developing world – are in serious debt trouble.”
