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World Bank Says Bold Debt Relief Plans Needed to Confront COVID Crisis
international |
economics and finance |
press release
Wednesday August 19, 2020 14:53 by Zachary Conti, zach@jubileeusa.org - Jubilee USA
World Bank President David Malpass called for debt cancellation for poor countries struggling with the coronavirus, in an interview he gave to The Guardian. "The coronavirus crisis is both a health and economic crisis and many developing countries can't address the critical needs of their people while paying debts," noted Eric LeCompte the Executive Director of the religious development group, Jubilee USA and a United Nations debt expert. "Many countries are experiencing both dramatic losses in revenue and rising costs to address the impacts of this crisis." |