Though significant steps have been taken to preventdebt crises across the world sparked by the COVID-19 crisis,they have not been sufficientto restore economic stabilityinmany developing countries, according to a policy brief issued by the UN Secretary-General on Monday.
More than a year into the pandemic, the fiscal impacts of the crisis are triggering debt distress in a growing number of countries and is severely limiting the ability of many,to invest in recovery and the Sustainable Development Goals (SDGs), including urgently needed climate action, Secretary-General Antnio Guterres said.
