Poor nations have seen their debt repayments double since 2010 amid declining oil prices , a strong US dollar and high US interest rates , according to the Jubilee Debt Campaign ( JDC ) . Many poor nations increased borrowing at a time of low interest rates and are now faced with having to cut public spending . The International Monetary Fund has become increasingly concerned at the financial vulnerability of poor countries and will discuss the issue at its spring meeting in Washington DC next week. Angola was impacted by a collapse in crude oil prices in the mid-2000s , while Cameroon and Egypt , whose repayments amounted to 25 % and 20 % of government revenue , cut spending by 25 % and 23 % , respectively .
Poor nations have seen their debt repayments double since 2010 amid declining oil prices , a strong US dollar and high US interest rates , according to the Jubilee Debt Campaign ( JDC ) . Many poor nations increased borrowing at a time of low interest rates and are now faced with having to cut public spending . Angola was impacted by a collapse in crude oil prices in the mid-2000s , while Cameroon and Egypt , whose repayments amounted to 25 % and 20 % of government revenue , cut spending by 25 % and 23 % , respectively .