The world’s poorest countries continued to borrow in 2021 due to the pandemic-induced disruptions to economic activity and supply chains, according to a new World Bank report.

• The debt of low- and middle-income countries in sub-Saharan Africa (SSA) increased to a record $789 billion in 2021 from $702 billion in 2020, according to the report released December 6, 2022. This is the region’s highest debt burden since 2010.
• In 2010, the region’s debt stood at around $305 billion. SSA’s debt increased by over 2.4 times between 2010 and 2021, according to the ‘International Debt Report 2022’.
• The SSA’s current debt is higher than its repayment capacity.