External borrowing by low- and middle-income economies surged to highest level in four years, according to the International Debt Statistics 2019.
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The total external debt of low- and middle-income countries rose 10 percent in 2017 to $7.1 trillion, a faster pace of debt accumulation than the 4 percent increase in 2016, according to the International Debt Statistics 2019. Regional level trends in external debt in 2017 accumulation varied. Countries in sub-Saharan Africa accumulated external debt at a faster pace than low- and middle-income countries in other regions in 2017: the combined external debt stock rose 15.5 percent from the previous year to $535 billion.


Much of this increase was driven by a sharp rise in borrowing by two of the region's largest economies, Nigeria and South Africa, where the external debt stock rose 29 percent and 21 percent respectively. Read More.




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