As economies across the globe struggle to cope with an economic crisis triggered by COVID-19, the United Nations today called for robust policy action to ensure economic stability.
The global community has offered partial debt service suspensions to 76 low-income countries, and the IMF has offered debt service relief to 25 of the poorest countries. These do not cover commercial and multilateral debt or middle-income countries, and will not suffice to avoid defaults.
Debt distress will impede countries’ efforts to combat the coronavirus pandemic and derail progress towards the Sustainable Development Goals (SDGs).
In its latest policy brief on debt, published today, the United Nations Department of Economic and Social Affairs…
