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World Bank Released International Debt Report

World Bank Released International Debt Report:

India’s total debt is around 81%, but most of it is domestic debt. India’s external debt is around 18.6% (around USD 624 billion at the end of March 2023), as per the RBI data.

  • Public and publicly guaranteed (PPG) debt service payments by Low and Middle-Income Countries (LMICs) reached over US$443 billion in 2022, posing a risk to their financial sustainability.
  • Rising interest rates and unfavourable exchange rate movements could make servicing external debt burdensome.
  • India’s debt service was 2% of the GNI in 2022.
  • The debt servicing may crowd out spending on other development priorities.
  • Due to a tighter monetary policy in advanced economies, there was a net outflow of over US$127 billion from LMICs as investors sought attractive returns in US and European bond
  • The report recommends debt buybacks and exchanges, and exploring debt-for-nature swaps to combine debt relief with funding green projects.


  • Formerly known as International Debt Statistics (IDS), is an annual publication by the World Bank, now in its fiftieth year.
  • It focuses on external debt statistics and analysis for 122 low- and middle-income countries participating in the World Bank Debt Reporting System.