More than 100 nations attending a UN aid conference pledged this week to help defuse the ticking time bomb of developing countries’ ballooning debt, but deciding how is proving more divisive.
“The debt burden is crippling the developing world,” UN chief Antonio Guterres told the conference in the Spanish city of Seville that reaffirmed support for lifting low-income nations out of their predicament.
“We must fix the global debt system which is unsustainable and unfair,” Guterres pleaded at the gathering, which runs to Thursday.
The total external debt of the group of least developed countries has more than…