Poor countries will receive this year higher costs to service the debt of the last 25 years, which will force them to cut spending on health And education.

Payouts duty due to non-residents in group 91 poor countries According to research by Debt Justice, in 2023 the state will account for an average of more than 16% of government revenue worldwide, and this figure will rise to almost 17% next year.

Increasing maintenance costs will spark an ongoing debate about debt forgiveness.

Lenders and foreign governments under his leadership IMF And her The World Bank they provided significant debt relief at the turn of the millennium.

The Heavily Indebted Poor Countries Initiative has eliminated much of the bilateral and multilateral external public debt for many of them.

They will be forced to cut funds for health care and education.

Heidi Chow, chief executive of Debt Justice, said debt repayments today are once again reaching “crisis” levels for many governments, “hindering their ability to provide public services, fight climate crisis and respond to economic shocks.”

The average hit a low of 6.6% of revenue in 2011 and has continued to rise ever since.

Chow called for “rapid and comprehensive” public debt relief, including changes to government bond laws in England and New York State to force private creditors to participate in debt relief.

But Masood Ahmed, president of the Washington-based think tank Center for Global Development and a former senior official at the IMF and the World Bank, said that today’s problems cannot be solved in the same way as in the past. “It’s different now,” he said. “Most countries want to keep access to external borrowing.”

According to World Bank data analyzed by Debt Justice, Sri Lanka faces the greatest difficulty in servicing its debt, with repayments accounting for 75% of annual government income. His bankruptcy is considered inevitable.

Pakistan, which is also at high risk of default, has scheduled public debt repayments of 47% of government revenue this year.