LONDON (Reuters) – Poor countries struggling to meet their dues in the wake of the COVID-19 crisis should be given a temporary buffer to avoid the risk of credit rating downgrades while they renegotiate their debt, a study published on Friday said.
Costs from the pandemic have triggered a spiralling in the public debt burdens of many developing countries, prompting the G20 group of major economies to last year unveil a proposal designed to help governments to overhaul the debt they owe to official and commercial creditors.
But participation in the G20 common framework has been limited so far by fears that countries signing up will face credit rating downgrades because of potential losses for private creditors from an…
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