World Bank Chief: About 60% of Developing Countries on Verge of Debt Crisis, Reduction Needed

According to the IMF and World Bank, 25% of emerging market and developing economies are in, or on the verge of, debt trouble. For low- and middle-income nations, the percentage jumps to 60%. Pressure on economies still recovering from COVID-19 were heightened by inflation, interest rate rises, and climate shocks.