The Jubilee Debt Campaign said a study of 126 developing nations showed that they were devoting more than 10% of their revenues on average to paying the interest on money borrowed – the highest level since before the G7 agreement to write off the debts of the world’s poorest nations at Gleneagles, Scotland, in 2005. Developing countries' economies will face fresh pressure if the US , as expected, raises interest rates. Poorer countries' debt repayments have already risen by 60% since 2014 , warned Jones . Its study showed that Five developing nations spent on average over 10% of their revenues paying the interest on loans, the highest level since 2005 . Five countries, Angola , Bhutan , Lebanon , Lebanon and Lebanon , were spending over a third of government revenues on servicing debt.
Developing countries' economies will face fresh pressure if the US , as expected, raises interest rates. Poorer countries' debt repayments have already risen by 60% since 2014 , warned Jones . Its study showed that Five developing nations spent on average over 10% of their revenues paying the interest on loans, the highest level since 2005 . Five countries, Angola , Bhutan , Lebanon , Lebanon and Lebanon , were spending over a third of government revenues on servicing debt.