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 .
Poor countries have seen their debt repayments double since 2010 amid declining commodity prices, a strong US dollar and rising 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 increased to 30% and 20% of government revenue, cut spending by 20% and 23%, respectively.