Tuesday June 2, 2020

Debt relief is the most effective pandemic aid

The private sector must take its share of the Covid-19 pain, and that share will have to include debt forgiveness for poorer nations

16th April, 2020
A motorcycle taxi driver wears a makeshift mask in the Kibera neighbourhood of Nairobi, Kenya. Developing countries need debt relief and financial assistance to fight Covid-19. Picture: AP

The nations of the developed world have responded to the Covid-19 crisis by supporting their domestic economies and financial systems in bold and unprecedented ways, on a scale that would have been unimaginable three months ago.

In contrast, when the world’s finance and central bank governors convene virtually this week for the semi-annual International Monetary Fund/World Bank meetings, steps will be taken to fortify the international system. But those steps will be nothing compared to...

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