12:45 - 12.10.2021

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October 12, Fineko/abc.az. Since the beginning of the pandemic in 2020, the external debt of low-income countries has grown at a record pace - by 12%.

ABC.AZ reports that World Bank’s yesterday-published report Statistics of International Debts for 2022 says that the debt of the poorest countries has reached $860 bn.

The total debt of low- and middle-income countries in 2020 increased by 5.6% up to $8.7 trillion. The net inflow of funds to middle- and low-income countries to combat the pandemic through the WB and the International Monetary Fund was the highest in the last 10 years - $117 billion. Half of $457 billion given by this group of countries in 2020 accounts for China.

In general, the net financial flow of a group of middle- and low-income countries in 2020 amounted to $909 billion. Of them, $435 billion are loans (an increase of 9%, $400 billion in 2019), and $473 billion are capital flows (a decrease of 15%, $554 billion in 2019). Foreign direct investment decreased by 14%, to the lowest level in the last 10 years - $435 billion.