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The Rising Cost of Debt: An Obstacle to Achieving Climate and Development Goals

A silent debt crisis is engulfing developing economies with weak credit ratings

Some developing economies have been able to raise more than $50 billion from bond investors. However, 28 developing economies with weak credit ratings and 31 low-income economies without credit ratings remain locked out of global capital markets, and their debt crisis could intensify. They need support in the form of debt relief or building fiscal space.

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