IMF: Low-income countries spend up to 14% of revenue on debt servicing

Low-income countries are having to spend anywhere from 8% to 14% of their own revenue solely on debt servicing. These nations have come under further pressure due to rising global interest rates, high inflation, and the impact of conflicts that have driven up the prices of fuel and various commodities. In this context, the International Monetary Fund (IMF) has emphasized the need for swift... Details