PARIS, Feb 23 — The UN Development Programme proposed on Wednesday reducing the debt of 52 low and middle-income countries, two days before G20 finance ministers meet in...
PARIS, Feb 23 — The UN Development Programme proposed on Wednesday reducing the debt of 52 low and middle-income countries, two days before G20 finance ministers meet in India.
“The countries most burdened by debt and lack of access to financing are also being battered by multiple other crises — they are among the most affected by the economic impact of Covid-19, poverty and the accelerating climate emergency,” UNDP Administrator Achim Steiner said. The UNDP called for a 30 per cent reduction on the value of the public external debt stock of these nations in 2021, which it said could help save up to US$148 billion in debt service payments over eight years.
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