The World Bank reported that the 26 poorest nations are facing unprecedented debt levels, with their average annual per capita income declining since COVID-19.
World Bank chief economist Indermit Gill emphasized the crucial support of the International Development Association, noting it has been a lifeline for these nations.
Natural disasters, exacerbated by climate change, result in yearly economic losses of about 2% of GDP in the poorest countries, significantly impacting their recovery.
The report highlighted that government debt in these nations averages 72% of economic output, marking the highest level recorded in the past 18 years.
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