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Author Topic: World’s poorest countries’ debt interest payments rise 35%, report says  (Read 353 times)

NadiaWits

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World’s poorest countries’ debt interest payments rise 35%, report says

Report’s author, the World Bank, states concern over poor countries’ increasing spending on debtThe world’s poorest countries are expected to pay 35% more in debt interest bills this year to cover the extra cost of the Covid-19 pandemic and a dramatic rise in the price of food imports, according to a World Bank report.More than £63bn will be spent by the 75 countries, many of them in sub-Saharan Africa, that make up the poorest nations, to cover loans taken out mostly over the past decade and higher interest rates. Continue reading...

Source: World’s poorest countries’ debt interest payments rise 35%, report says



 

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