A recent World Bank report reveals that developing and emerging economies spent $1.4 trillion on servicing foreign debt last year, the highest ever recorded. With total external debts reaching $8.8 trillion, many countries struggle to balance debt repayments with essential investments in infrastructure and education. The report highlights how high interest rates set by major central banks have exacerbated debt burdens, creating a cycle of financial distress. Solutions are debated, including potential debt relief and strengthening democratic institutions to encourage economic growth.