Of the developing regions in the world, countries in Asia and Oceania recorded the highest public debt levels in 2023. Moreover, public debt in the region more than tripled from 2010 to 2023. High debt levels and borrowing costs are a significant problem for countries already struggling with poor government finances. For instance, borrowing costs in Africa are almost four times higher than in the U.S.
Global public debt in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023
(in billion U.S. dollars)
Public debt is general domestic and external government debt. General government includes both central, state, and local governments as well as social security funds.
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UNCTAD. (June 3, 2024). Global public debt in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023 (in billion U.S. dollars) [Graph]. In Statista. Retrieved December 21, 2024, from https://www.statista.com/statistics/1475570/global-public-debt-developing-regions/
UNCTAD. "Global public debt in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023 (in billion U.S. dollars)." Chart. June 3, 2024. Statista. Accessed December 21, 2024. https://www.statista.com/statistics/1475570/global-public-debt-developing-regions/
UNCTAD. (2024). Global public debt in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: December 21, 2024. https://www.statista.com/statistics/1475570/global-public-debt-developing-regions/
UNCTAD. "Global Public Debt in Developing Countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and The Caribbean from 2010 to 2023 (in Billion U.S. Dollars)." Statista, Statista Inc., 3 Jun 2024, https://www.statista.com/statistics/1475570/global-public-debt-developing-regions/
UNCTAD, Global public debt in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/1475570/global-public-debt-developing-regions/ (last visited December 21, 2024)
Global public debt in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023 (in billion U.S. dollars) [Graph], UNCTAD, June 3, 2024. [Online]. Available: https://www.statista.com/statistics/1475570/global-public-debt-developing-regions/
