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MADRID, Dec 14 (IPS) – The external debt of the world’s low and middle-income countries at the end of 2021 totalled 9 trillion US dollars, more than double the amount a decade ago. Moreover, the debt-service payments, projected to top 62 billion US dollars in 2022, put the biggest squeeze on poor countries since 2000, according to the World Bank. Actual debt service is the set of payments actually made to satisfy a debt obligation, including principal, interest, and any late payment fees.

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