G24 chair Taiwo Oyedele said on Tuesday at the IMF and World Bank annual meetings in Bangkok that debt vulnerabilities in many developing economies—notably in Africa—have become a major barrier to achieving inclusive growth, with governments facing mounting debt burdens. He estimated developing countries pay about $500bn more in debt servicing than advanced economies, while widening fiscal deficits and sharply higher borrowing costs are adding pressure. Ongoing Middle East conflict-related suppl

G24 chair Taiwo Oyedele said on Tuesday at the IMF and World Bank annual meetings in Bangkok that debt vulnerabilities in many developing economies—notably in Africa—have become a major barrier to achieving inclusive growth, with governments facing mounting debt burdens. He estimated developing countries pay about $500bn more in debt servicing than advanced economies, while widening fiscal deficits and sharply higher borrowing costs are adding pressure. Ongoing Middle East conflict-related supply shocks and a “super” El Niño driving up food prices are compounding strains and, Oyedele said, are hindering emerging markets’ economic transformation and large-scale job creation.