UNCTAD reports global debt has reached $111 trillion

UNCTAD’s latest ‘World of Debt’ report reveals that global public debt has surged to $111 trillion, up from $49 trillion in 2010. While more than two-thirds of this debt belongs to advanced economies, the rate of debt increase is significantly more aggressive in developing nations.

The report highlights a critical crisis in 51 developing countries, home to 3.7 billion people, where public debt interest payments have surpassed national spending on health or education. In 2025, developing nations were projected to make approximately $1 trillion in net interest payments, nearly triple the levels seen in 2010.

Since 2022, interest payments on external public debt have exceeded the amount of net new credit provided to developing countries. This trend suggests that external borrowing is no longer generating additional development resources, instead forcing countries toward more expensive domestic borrowing. UNCTAD noted that ‘debt should help countries invest in their future,’ but currently, debt servicing in many developing nations is outpacing new resource inflows.