New UN study shows 72 nations and $598 bn in debt payments at risk through 2025

0

The coronavirus pandemic has worsened crippling debt issues already dealing with 72 low- and middle-income nations, placing at risk some $598 billion in debt service payments from 2021 to 2025, together with $87 billion this yr alone, the United Nations Development Program reported Thursday.

Of these, solely 49 nations are eligible for debt reduction measures adopted by the Group of 20 main economies, UNDP Administrator Achim Stein instructed reporters, calling on G20 members to rapidly increase a moratorium on debt service payments and a standard framework for debt therapies past the poorest nations.

He additionally referred to as for a mechanism that may enable wealthy nations to share their a part of a possible $650 billion growth of the International Monetary Fund’s emergency reserves with center revenue nations.

FOLLOW us ON GOOGLE NEWS

 

Source

Leave a comment