Global NewsUN Solicits Debt Relief For Indebted Countries

UN Solicits Debt Relief For Indebted Countries

-

- Advertisment -spot_img
Everything on JUMIA

The United Nations (UN) is calling for more flexibility from developed countries in easing the growing debt burden of poorer nations.

UN solicits debt relief for indebted countries |Unsplash

The head of the United Nations Development Programme (UNDP), Achim Steiner said there was a fear that affected countries, particularly in Africa and Latin America, would no longer be able to afford spending to cope with the coronavirus pandemic or to meet sustainable development and climate goals.

“I think it does not take much imagination to understand that this debt crisis threatens to spill over to an entrenched sustainable development crisis …,” said Steiner.

Flash Sales

In a report published on Tuesday, UNDP identified 54 developing countries with a serious debt problem.

They represent little more than three per cent of the global economy but account for more than five per cent of people living in extreme poverty.

Read Also: Serena Williams Invests $3.3M In Nigerian Data Provider Stears

“Given the global outlook of low growth and high-interest rates, the international community must urgently step-up debt relief efforts to avert a deepening development crisis,” the report said.

The worst affected countries, it said, were Chad, Zambia and Ethiopia, as well as Sri Lanka and Pakistan. (dpa/NAN)

newswebbshttps://newswebbs.com
New Webbs is an independent online news platform launched with the aim of connecting the world with the latest news on the web.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Benue: EFCC Arrests 6 Internet Fraudsters

The Economic and Financial Crimes Commission (EFCC) in Benue State have reportedly arrested six suspected internet fraudsters (Yahoo Yahoo) within the state.

40-year-old Woman Claims She Took Prince Harry Virginity

Sasha Walpole, a 40-year-old heavy equipment driver has disclosed to the public that she took Prince Harry's virginity at...

Mouka Partners GNOSIS To Provide Succor For Victims Of GBV

Lagos, Nigeria - Mouka, Nigeria’s preferred brand of mattresses, pillows and other sleep products, has comforted gender-based violence (GBV),...

Defamation: Sharia Court Remands Kano Tiktoker Murja

Kano, Nigeria - A Kano Upper Shari’a Court has ordered that a popular Tiktok skit maker, Murja Kunya, 24,...
- Advertisement -spot_imgspot_img

Man Sentenced For Hiding Cocaine In Airport Toilet

Lagos, Nigeria - A Federal High Court sitting in Lagos has awarded five-years jail term to Okafor Okwudili, a...

Two Died, Several Trapped As Abuja Building Collapses

Abuja, Nigeria - Two persons died and up to fifty (50) persons were reportedly trapped when a two-storey commercial...

Must read

Diaspora Presidential Debate Holds February 11 For Tinubu, Atiku, Obi, Others

The Organisation for the Advancement of Nigerians (OAN, Inc.),...

Lockdowns Facilitate Up To Tenfold Rise In Child Sexual Acts

A new data has unveiled that content of young...
- Advertisement -spot_imgspot_img

You might also likeRELATED
Recommended to you

Buy More, Save More