(Bloomberg) —
Developed nations are considering financial support for a plan to relieve African countries of debt payments without triggering default, according to the United Nations committee steering the initiative.
The debt-swap deal would channel payments due this year on international bonds back to the African nations, helping them fight the coronavirus and its economic impact. Investors would be compensated with securities issued by an international organization set up to monitor the use of funds and guaranteed by the central banks of richer nations or bilateral lenders, according to the plan.
We have at least three countries that are interested but were trying to bring them together to form a group, Vera Songwe, the executive se…
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