The heavy debt weighing on developing countries can be alleviated through readily available measures, the UN's trade and development chief said, pleading for bold international action.
UNCTAD, she said, estimated that currently"there are 52 countries that are either in debt distress or on the brink of debt distress". There have been numerous efforts over the decades to resolve debt problems weighing on poor countries, but Grynspan said they have been so slow and complicated that they often act as a"deterrent".Mideast-related oil price spike threatens 'relatively good' economic outlook: IMF chief economist
That money, she said, could provide"great relief" if used towards"the needs of the people of these countries".
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: