The world’s poorest countries now owe $62 billion in annual debt service to official bilateral creditors, an increase of 35% over the past year, World Bank President David Malpass said, warning that the increased burden is increasing the risk of defaults.
REUTERS
“I’m worried about a disorderly default process where there’s not a system to really address” debts for poorer countries, Mr. Malpass said. “China’s one of the big creditors, so … it’s very important that China engage on this issue and think about where it sees the world going and be responsive to work with what needs to be done to achieve sustainability for the countries.”
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