The $2 trillion interest bill that is hitting governments

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The world spent the last ten plus years taking advantage of rock bottom interest rates to get stuck in debt. An unprecedented bill is coming.

Governments are expected to spend a net $2 trillion paying interest on their debt this year as higher interest rates make borrowing more expensive, up more than 10% from 2022, according to analysis by International Monetary Fund data by research consultancy Teal Insights and its separate analysis by Fitch Ratings. By 2027, it could exceed $3 trillion, according to Teal Insights.

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