Debt crisis facing G20

Soaring debt gripping developing world nations, as debt-to-GDP ratios rise to unprecedented levels, will be a core topic during the G20 summit in India


Developing world debt-to-GDP ratios 

Lebanon   114.6%
Sep 2022: Public debt hits $102.7 billion

Sri Lanka   103.8%
Mar 2023: $2.9 billion IMF bailout, but public debt remains at $82 billion

Egypt  88.5%
Jun 2023: $100 billion of debt to repay over next five years

Tunisia   79.7%
Oct 2023: €500 million foreign loan repayment due

Ukraine   78.4%
Aug 2022: $20bn debt suspended for two years following Russia's invasion 

Zambia
Nov 2020: Defaults on $42.5 million bond payment
Jun 2023: "Paris Club" creditor nations restructure $6.3 billion debt

Ghana   70.7%
May 2023: Some £30 billion debt of external debt remains unsustainable

Kenya  69.4%
Jun 2023: $6.3 billion debt to China costs $743 million in interest annually

Pakistan  69.1%
Dec 2022: Debt surges to $126.3 billion, including $27 billion owed to China

Sources: Chatham House, Credendo, Reuters, World Bank   © GRAPHIC NEWS