LONDON – The death of Pope Francis and global aid cuts led by the United States could complicate the work of a group of experts assembled by the Vatican to bring debt relief and a fairer financing system to the world’s poor.
Developing countries are already grappling with shrinking concessional financing and difficulty accessing bond markets due to the selloff triggered by U.S. President Donald Trump’s sweeping tariffs.
The challenges were highlighted when the Vatican-assembled group, known as the “Jubilee Commission”, presented its draft plan for debt relief and affordable finance at the IMF and World Bank spring meetings last week in Washington.
Less than a year ago, liquidity concerns for the developing world were a priority at such…
