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Originally published by KBC Top Storiestop
March 31, 2026
4h ago
Developing countries are being priced out, in struggle for affordable finance
Developing countries are being priced out of the affordable finance they desperately need for sustainable development, with sovereign credit ratings often overstating risk and overlooking long-term economic potential, the UN said on Monday...
✨ Key Highlights
Deputy UN Chief Amina Mohammed highlighted at a UN Economic and Social Council (ECOSOC) meeting that developing countries are struggling to access affordable finance due to a flawed credit rating system.
- Developing countries face nearly $1.4 trillion in annual debt servicing costs, with over 3.4 billion people living in nations spending more on debt interest than on health or education.
- The Deputy UN Chief, speaking for Secretary-General António Guterres, criticized current credit ratings for relying on "outdated and incomplete information."
- The article calls for transforming credit ratings from barriers into contributors to long-term finance and sustainable development, advocating for broader, more transparent, and forward-looking methodologies.
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