The debt of the world’s poorest countries hit a record $744 billion in 2019 prior to the coronavirus pandemic but debt relief is lagging, the World Bank said Monday in a report that singles out China.
Business shutdowns and border closures to stop the spread of Covid-19 beginning in March have devastated economies worldwide, and in April, the G20 group of large economies endorsed a debt suspension for the world’s poorest countries. The report, released as the World Bank begins its annual meetings along with the IMF, said the debt burden of the poorest countries owed to government creditors, most of whom are G20 states, reached $178 billion last year.
Malpass decried what he called a lack of participation by private sector creditors but also warned wealthier countries were not doing their full share.
And the US alone have borrowed over $2.5 trillion this year alone. This life is not balance honestly
7 of the top richest people in the world can pay off this debt but I will not advice them to do so but rather they should help in giving practical knowledge to the leaders of this poor countries on how to turn their economy around to improve the lives of their citizens.
Y’all ignoring the wale tweets,remember this is Nigeria anyone of u could be picked,ur friends protesting could be picked...Wale is every and any of us free bloods walking about,we must speak the loudest for his freedom FreeWale SARSMUSTEND
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