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The COVID-19 pandemic brought unprecedented challenges to low- and middle-income countries. Even prior to the onset of the crisis, rising public debt levels and heightened debt...
Countries must set ambitious national climate commitments if they are to sustain a healthy and green recovery from the COVID-19 pandemic.
Governments around the world responded to the COVID-19 pandemic with massive fiscal, monetary, and financial stimulus packages. While these measures were aimed at addressing the health emergency, cushioning the impact of the pandemic on the poor and vulnerable and putting countries on a path to recovery, the resulting debt burden of the world’s low-income countries rose 12% to a record US$860 billion in 2020, according to a new World Bank report.
Debt reduction, restructuring, and transparency needed to help low-income countries overcome debt challenges WASHINGTON, Oct. 11, 2021- Governments
The World Bank says the external debt stock of the world’s low-income countries rose 12 percent to a record $860 billion in 2020 from...