Fears of a fresh debt crisis in developing countries that would send shockwaves through the global financial system have been highlighted by a United Nations report stressing the vulnerability of poor states to falling commodity prices and higher interest rates.
The annual report from the UN conference on trade and development (Unctad) said the benefits of the debt relief provided to some of the worlds poorest countries as a result of the mass public campaigns of the late-90s and early 2000s were fast evaporating.
It said a number of countries mainly in sub-Saharan Africa had been forced to seek help from the International Monetary Fund and the World Bank, adding that the international community needed to be better prepared to ma…
Read the full article at: https://www.theguardian.com/business/2016/sep/21/united-nations-unctadwarns-debt-crisis-poor-developing-countries-oil-prices
