In 2023, the total sovereign debt stock of V20 countries reached USD 1.01 trillion, equivalent to 25% of members’ Gross National Income (GNI). Eleven countries spend more than 25% of their government revenue on debt service alone. External debt service payments tripled over the past decade, rising from USD 47 billion in 2014 to USD 131 billion in 2024. V20 countries now spend four times more servicing debt compared to climate investments. To break this doom loop, the latest V20 Debt Review ...
