Poor African countries, others get $93b lifeline from World Bank

• Global debt hits $226tr, now 256% of output The World Bank Group has announced a $93 billion funding to help low-income countries respond to the COVID-19 crisis and build greener, resilient and inclusive economies. The lifeline is being extended through its member, the International Development Association (IDA). The amount comprises $23.5 billion of contributions from 48 high- and middle-income countries with financing raised in the capital markets, repayments and the World Bank’s contributions. This comes as research by the International Monetary Fund (IMF), yesterday, said the world has experienced the largest one-year debt surge since World War II this

By |December 16th, 2021|Categories: News|Tags: , |0 Comments
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