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Browsing: Loan waivers
The United Nations Conference on Trade and Development (UNCTAD) is calling for debt deal for developing nations in face of the Covid-19 coronavirus.
UNCTAD, in a report titled From the Great Lockdown to the Great Meltdown: Developing Country Debt in the Time of Covid-19, notes that the virus outbreak came at a time when developing economies have already been struggling with unsustainable debt burdens for many years.
Coronavirus: African leaders stuck with neglected, outdated healthcare systems
The report notes that if the challenges are huge in advanced economies, they are enormously more daunting in developing economies.
“While advanced country governments struggle to revamp administrative and regulatory frameworks and to break ideological taboos, developing countries cannot easily flatten the contagion curve by closing down their largely informal economies without facing the prospect of more people dying from starvation than from the Covid-19 illness. Moreover, even the most advanced high-income developing …