World’s poorest countries’ debt interest payments rise 35%, report says

Report's author, the World Bank, states concern over poor countries' increasing spending on debt

The world's poorest countries are expected to pay 35% more in debt interest bills this year to cover the extra cost of the Covid-19 pandemic and a dramatic rise in the price of food imports, according to a World Bank report.

More than 63bn will be spent by the 75 countries, many of them in sub-Saharan Africa, that make up the poorest nations, to cover loans taken out mostly over the past decade and higher interest rates.