New Delhi, May 5 -- Over this century, low- and middle-income countries (LMIC) have seen their external public debt rise from $1.1 trillion in 2000 to $3.4 trillion in 2023.

Meanwhile, the recent aid cuts announced by the United States, United Kingdom, France, Germany and other Western countries will make it increasingly difficult for the Global South to balance rising debt servicing costs with crucial developmental needs. As much as 23 per cent of the fund flow before cuts were announced could be frozen by 2027, according to analysis by ONE, an international data research organisation.

To add to this, Donald Trump's protectionist tariffs will add another layer of concern, as many countries depend on export earnings for economic growth...