Emerging economies’ external debt climbed to a record $9. 4 trillion in 2025, according to the World Bank, boosted in part by the poorest nations facing borrowing cost levels unseen since the 1980s.

Source: [Bloomberg Markets](https://www.bloomberg.com/news/articles/2026-11-05/lower-income-nations-face-highest-debt-costs-since-1989-world-bank)

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