• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News Diaspora

Debt burden of the least developed nations rises to $744 billion – World Bank

Abiola Odutola by Abiola Odutola
October 13, 2020
in Diaspora, Spotlight
Economy: IMF & World Bank differ on Nigeria’s growth outlook, Amid coronavirus spread, World Bank to step down global growth forecast , Nigeria to receive first tranche of World Bank’s $3 billion loan soon, World Bank commits $12 billion to curb coronavirus, defend developing countries’ economy

David Malpass, World Bank

Share on FacebookShare on TwitterShare on Linkedin

The total external debt of the least developed countries under the Debt Service Suspension Initiative (DSSI) has increased by 9.55% to $744 billion in 2019.

This was disclosed in the World Bank’s International Debt Statistics 2021 released in Washington D.C. on Monday.

According to the report, the figure was equivalent on average to one-third of the countries’ combined gross national income.

RelatedStories

World Bank Appoints Mathew Verghis as Country Director for Nigeria 

World Bank Appoints Mathew Verghis as Country Director for Nigeria 

July 4, 2025
World Bank, Tanzania

World Bank approves extra $65 million loan for Nigeria’s SPESSE project 

July 1, 2025

READ: Nigeria total public debt hits N31 trillion as debt service gulp over N1.2 trillion in H1 2020 

It stated, “Lending from private creditors was the fastest-growing component of the external debt of DSSI-eligible borrowers, up five-fold since 2010. Obligations to private creditors totaled $102 billion at the end of 2019. The debt stock of DSSI-eligible countries to official bilateral creditors composed mostly of Group of 20 (G-20) countries, reached $178 billion in 2019 and accounted for 27% of the long-term debt stock of low-income countries.”

According to the report, this highlights an urgent need for creditors and borrowers alike to collaborate and stave off the growing risk of sovereign-debt crises triggered by the COVID-19 pandemic.

READ: Nigeria’s total public debt stock increased by N2.381 trillion in 3 months

It added that the pace of debt accumulation for these countries was near twice the rate of other low- and middle-income countries in 2019.

The report said that in response to an urgent need for greater debt transparency, this edition provided more detailed and disaggregated data on external debt than ever before in its nearly 70-year history.

READ: First Bank is cutting inefficiencies and focusing on its strengths

According to the report, details include breakdowns of what each borrowing country owes to official and private creditors in each creditor country and the expected month-by-month debt-service payments owed to them through 2021.

Pre-COVID

The World Bank said that before the onset of the COVID-19 pandemic, rising public debt levels were already a cause for concern, particularly in many of the world’s poorest countries as discussed in its Four Waves of Debt report published in December 2019.

READ: Nigeria’s debt rises to $79.5 billion, as debt to revenue ratio worsens

“Responding to a call from the World Bank and the International Monetary Fund, the G20 endorsed the DSSI in April 2020 to help up to 73 of the poorest countries manage the impact of the COVID-19 pandemic. The debt stock of DSSI-eligible countries to official bilateral creditors, composed by mostly G-20 countries, reached 178 billion dollars in 2019 and accounted for 17% of long-term net debt flows to low and middle-income countries. Within the G-20 creditor group, there have been some important shifts characterized by a marked increase in lending by G-20 member countries that are themselves middle-income countries,” it added.

READ: Nigeria records lowest remittances from abroad since 2008

Citing China as an example, though by far the largest creditor, it had seen its share of the combined debt owed to G-20 countries rise from 45% in 2013 to 63% at the end of 2019.

It said that over the same period, the share for Japan, the second-largest G-20 creditor, had remained broadly the same at 15%.

READ: LCCI condemns Senate over Buhari’s $22.7 billion loan approval


Follow us for Breaking News and Market Intelligence.
Tags: Debt Service Suspension InitiativeDSSIWorld Bank
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

Related Posts

World Bank Appoints Mathew Verghis as Country Director for Nigeria 
People

World Bank Appoints Mathew Verghis as Country Director for Nigeria 

July 4, 2025
World Bank, Tanzania
Economy

World Bank approves extra $65 million loan for Nigeria’s SPESSE project 

July 1, 2025
Nigeria secures World Bank’s approval for $2.25 billion loan to boost reforms 
Economy

World Bank: Conflict, instability driving extreme poverty in Nigeria and 38 other economies 

June 27, 2025
President Bola Tinubu,
Economy

FG clarifies proposed $21.5 billion debt, taps World Bank, ADB, China, France, EU for new loan

May 27, 2025
World Bank: Food insecurity in Africa soars by 60% despite production gains 
Agriculture

World Bank: Food insecurity in Africa soars by 60% despite production gains 

May 27, 2025
World Bank, Tanzania
Economy

World Bank faults CBN’s OMO policy, says not working “effectively”  

May 14, 2025
Next Post
ETF, stocks, shares, investment, equity,Gold loses some shine on hopes for COVID-19 vaccines

Gold prices drop, U.S Tech Stocks tick up

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • President Tinubu summons emergency FEC meeting to honour late Muhammadu Buhari 
  • Africa needs gas as a transformational fuel for development – Sahara Group 
  • FG to pilot 6-month training for 3,000 artisans in 10 construction trades across 3 states  

Follow us on social media:

Recent News

President Tinubu appoints 6 Chief Medical Directors for federal hospitals on 4-year terms 

President Tinubu summons emergency FEC meeting to honour late Muhammadu Buhari 

July 13, 2025
Africa needs gas as a transformational fuel for development – Sahara Group 

Africa needs gas as a transformational fuel for development – Sahara Group 

July 13, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics