World Bank wants to go through debt restructuring faster

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The World Bank is committed to providing large amounts of resources to countries facing a worsening debt situation in their public accounts as a result of the Covid-19 pandemic, World Bank President David Malpass said on Tuesday (13) ).

Participating in a panel on debt issues, Malpass said the objective is to help countries facing a debt process to go through the restructuring stage more quickly than in previous cycles.

The World Bank chief highlighted the Bank’s long-term goal of encouraging more transparent and high-quality investments that help countries move forward.

Debt of poor countries

A World Bank study published on Monday (12) showed that the foreign debt of countries eligible for the G20 debt relief program rose 9.5% in 2019, to $ 744 billion.

The official bilateral debt of the poorest countries to the G20 nations reached $ 178 billion in 2019 – with 63% of the total due to China. According to the study, China’s participation was 45% in 2013, the year in which Beijing launched its global road and belt infrastructure project.

Source: G1

The World Bank is committed to providing large amounts of resources to countries facing a worsening debt situation in their public accounts as a result of the Covid-19 pandemic, World Bank President David Malpass said on Tuesday (13) ).

Participating in a panel on debt issues, Malpass said the objective is to help countries facing a debt process to go through the restructuring stage more quickly than in previous cycles.

The World Bank chief highlighted the Bank’s long-term goal of encouraging more transparent and high-quality investments that help countries move forward.

Debt of poor countries

A World Bank study published on Monday (12) showed that the foreign debt of countries eligible for the G20 debt relief program rose 9.5% in 2019, to $ 744 billion.

The official bilateral debt of the poorest countries to the G20 nations reached $ 178 billion in 2019 – with 63% of the total due to China. According to the study, China’s participation was 45% in 2013, the year in which Beijing launched its global road and belt infrastructure project.

Source: G1

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