Interest rate rises meant poorer nations now spend twice or three times the share of their revenues on servicing debt compared to wealthier ones, and about 2.3 times more on interest payments than on social assistance.
It would be similar to the since-ended Debt Service Suspension Initiative the G20 set up to help poorer countries during Covid-19. Eliminating poverty is one of a series of UN goals aimed at tackling some of humanity's most entrenched problems by 2030.
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