UN agency calls for $1 trillion developing world debt write-off

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23-04-2020 | 13:39
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UN agency calls for $1 trillion developing world debt write-off
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UN agency calls for $1 trillion developing world debt write-off
Around $1 trillion of debt owed by developing countries should be cancelled under a global deal to help them overcome the economic fallout of the COVID-19 pandemic, the United Nations Conference on Trade and Development (UNCTAD) said on Thursday.

"This is a world where defaults by developing nations on their debt is inevitable," said Richard Kozul-Wright, director of UNCTAD's Division on Globalization and Development Strategies.



REUTERS

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