The United Nations reported that global public debt reached a record $97 trillion in 2023, with developing countries holding about one-third of this debt, severely impacting their ability to fund essential services like healthcare, education, and climate action. The debt increased by $5.6 trillion from 2022, driven by high interest payments that surpass growth in crucial public spending. The report calls for changes in the international financial system to ensure sustainable development. The U.S., China, and Japan are the top debt holders, while Egypt, Mexico, Brazil, and India lead among developing nations.