NEW YORK: UN Secretary-General Antonio Guterres warned on Monday that if left unchecked debt distress in the world's most vulnerable countries would be"a dagger through the heart of global recovery" from the coronavirus pandemic.
As of mid-2021, over half of the world's poorest countries"are in external debt distress, or at risk of it," World Bank President David Malpass said last week. He also called for G20's Debt Service Suspension Initiative to be extended into next year and made available to all countries that need it, including middle-income countries, for a comprehensive strategy around reforming the international debt architecture and for private finance to help fill the gap.
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