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Al Jazeera
Al Jazeera
Business

Nations where 3.3bn live spend more on debt than health, schools

United Nations Antonio Guterres Developing Countries
A school student in Caracas, Venezuela, in 2022. Some 3.3 billion people – almost half of humanity – now live in countries that spend more money paying interest on their debts than on education or health, according to a new UN report released on July 12, 2023 [File: Matias Delacroix/AP Photo]

Approximately 3.3 billion people – almost half of humanity – now live in countries that spend more money paying interest on their debts than on education or health, according to a new United Nations report.

“Half our world is sinking into a development disaster, fuelled by a crushing debt crisis,” UN Secretary General Antonio Guterres told a press conference launching a report on Wednesday on the state of the world’s debt.

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