Developing economies could secure up to $148 billion in savings if the international community restructures their existing debt and expands access to future affordable finance, the UN Development Programme (UNDP) said in a policy brief published on Wednesday.
Fifty-four countries that are home to more than half of the poorest people on the planet need urgent debt relief now, the UN Development Programme (UNDP) said in a paper published on Tuesday that calls for rich countries to step up.
For two decades, the African Union (AU) has been “a gold standard of regional co-operation”, Secretary-General António Guterres told the fifth UN-AU Annual Conference on Wednesday in New York.
Recovery from the COVID-19 pandemic must be sustainable and inclusive, Secretary-General António Guterres said in remarks to a major UN trade conference which opened on Monday in Barbados, unveiling “an urgent four-point debt crisis action plan.”
Economists and finance experts are warning that countries with “high” or “distressed” public debt levels are at risk of severe economic shocks amid the COVID-19 pandemic and calling for restructuring plans based on the principle of solidarity.
