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The Graphic Truth: Developing countries' deadly debt trap

The head of the IMF has already warned that the state of the global economy is "worse than our already pessimistic projections." But while the pandemic is taking a huge economic toll on every country in the world, many emerging-market economies, which currently owe a collective $8.4 trillion in foreign debt, face a particularly grim tradeoff between paying their bondholders or funding their hospitals. Even before the coronavirus crisis, 64 countries spent more money annually servicing their external debt payments than they did on healthcare. Now, the global health emergency is taxing their underfunded healthcare systems, complicating attempts to contain the virus. Many countries have already pleaded for emergency debt relief. Here's a look at the countries that spend more on annual debt servicing than on healthcare.

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A banner reading "Buy Canadian", in response to U.S. President Donald Trump's 25% tariffs on goods from Canada, is held aloft by a pair of hockey sticks in front of a house in Winnipeg, Manitoba, Canada March 5, 2025.
REUTERS/Ed White

Washington and Ottawa are down to the wire with last-minute talks to reach an agreement by 12:01 a.m. Wednesday, when President Donald Trump has threatened to impose 50% tariffs on over $20 billion of Canadian goods.

A staff member holds a dummy as staff and customers take shelter at a storage room, during an air raid exercise at a PX Mart supermarket as part of the civil defence drills in Taipei, Taiwan. July 10, 2025.
REUTERS/Annabelle Chih

As the line between the battlefield and everyday life blurs, countries are increasingly preparing civilians for the next war.