Boris Johnson should use his presidency of the G7 this year to insist that UK banks take part in the global push to alleviate a new developing country debt crisis, a campaign group has urged.
The Jubilee Debt Campaign (JDC) said there was a special responsibility on Britain to act, as it released new figures showing that London-based banks were the largest owners of debt issued by poor countries.
With steps being taken in New York to make debt restructuring easier, the JDC said the UK was now the most important country when it came to unblocking multilateral debt relief efforts.
The president of the World Bank, David Malpass, has urged private lenders to take part voluntarily in a debt suspension scheme orchestrated by the G20 group of lead…
Read the full article at: https://www.theguardian.com/world/2021/feb/21/uk-urged-take-lead-easing-debt-crisis-developing-countries-g7
