Of the developing regions in the world, countries in Asia and Oceania as well as Latin America and the Caribbean recorded the highest public debt rate levels in 2023 at over 70 percent of the gross domestic product. High debt levels and borrowing costs are a significant problem for countries already struggling with poor government finances. For instance, borrowing costs in Africa are almost four times higher than in the U.S.
Global public debt rate in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023
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Global public debt rate in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023
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Public debt is general domestic and external government debt. General government includes both central, state, and local governments as well as social security funds.
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UNCTAD. (June 3, 2024). Global public debt rate in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023 [Graph]. In Statista. Retrieved June 24, 2025, from https://www.statista.com/statistics/1475603/global-public-debt-rate-developing-regions/
UNCTAD. "Global public debt rate in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023." Chart. June 3, 2024. Statista. Accessed June 24, 2025. https://www.statista.com/statistics/1475603/global-public-debt-rate-developing-regions/
UNCTAD. (2024). Global public debt rate in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023. Statista. Statista Inc.. Accessed: June 24, 2025. https://www.statista.com/statistics/1475603/global-public-debt-rate-developing-regions/
UNCTAD. "Global Public Debt Rate in Developing Countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and The Caribbean from 2010 to 2023." Statista, Statista Inc., 3 Jun 2024, https://www.statista.com/statistics/1475603/global-public-debt-rate-developing-regions/
UNCTAD, Global public debt rate in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023 Statista, https://www.statista.com/statistics/1475603/global-public-debt-rate-developing-regions/ (last visited June 24, 2025)
Global public debt rate in developing countries in Africa, Europe and Central Asia, Asia and Oceania, and Latin America and the Caribbean from 2010 to 2023 [Graph], UNCTAD, June 3, 2024. [Online]. Available: https://www.statista.com/statistics/1475603/global-public-debt-rate-developing-regions/
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