Governments Getting Hit with $2 Trillion Interest Bill

The global debt binge fueled by years of low interest rates is leading to a staggering interest payment crisis. Governments are projected to spend a net $2 trillion on debt interest in 2023, over 10% more than in 2022, with costs potentially rising to $3 trillion by 2027. This surge in interest payments, triggered by rising rates, poses a severe financial strain on governments worldwide.