“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.
Amid warnings the pandemic could push 100 million people into extreme poverty, Malpass renewed his call for private banks and investment funds to get involved too.
We need student loans cancelled in the US too. Millions in poverty for the 'crime' of wanting an education or to be marketable in this impossible environment. Also, make higher ed free and make employers pay for Job training again.
thebearablebull Can I have debt cancellation please
No. Tough shite for them. Is this why the banks are bleeding dry the economies of western countries during this so-called pandemic?
Will you hold the money the corrupt governments took from their poor countries? And give the money back to the people in education, health and social services? That is better
No you need to help and teach them how to manage their finances.. The banks have never cancelled my debt just because I'm broke/ poor ... The people have to see who the useless Governments are and change them
After milking them dry, now fatten them before starting allover again. Yeah that's cool.
Some of these poor countries leaders have looted borrowed money for self enrichment and corruption. Instead why not expose them before any debt relief can be given. Your attitude just makes citizens of these nations suffer more.
SantaSurfs
The world bank.. are they the ppl in charge to invent money for the sole purpose of enslaving ppl and countries?
maybe the poorest countries need to learn to be responsible
Nothing for free! What's the catch?
Isn’t this the dad from Diff’rent Strokes?
What's the catch
Why not? We did it for the rich countries. Aren't there a bunch of places that owe people money for WWI and II
No shit sherlock.
Nope. End the WTO & FED.
VULTURES
We must lift the poor into prosperity. It benefits all when everyone has enough.
start with student loans then
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