Monday, 05 Oct 2020 07:27 AM MYT
“It is evident that some countries are unable to repay the debt they have taken on. We must therefore also reduce the debt level. This can be called debt relief or cancellation,” Malpass told Handelsblatt business daily in an interview.He pointed to similar steps in previous financial crises such as in Latin America and the so-called HIPC initiative for highly indebted countries in the 1990s.
“These investors are not doing enough and I am disappointed with them. Also, some of the major Chinese lenders did not get enough involved. The effect of the aid measures is therefore less than it could be,” the World Bank head said. Saudi Arabia and Turkey have been at odds for some years over foreign policy and attitudes towards political Islamist groups. The murder of Saudi journalist Jamal Khashoggi in Saudi’s Istanbul consulate in 2018 escalated tensions sharply.
A Saudi importer told Reuters on condition of anonymity that containers he imported this year from Turkey lay for three months with customs before being released. He said customs officials informally advised him not to import directly from Turkey again. On Thursday, Turkish President Tayyip Erdogan took a swipe at the Gulf Arab states in a speech to parliament.
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