UN urged to forgive $1 trillion of debt to developing countries

The UN Economic Development Agency (UNCTAD) called on rich countries and international credit institutions to write off $1 trillion of debt to developing countries, according to Reuters on April 23. According to UNCTAD, the decision of the G-20 countries to temporarily suspend debt payments to developing countries will not solve the problem in the context of the recession. This is a world in which the default of developing countries on their debts is inevitable, said the representative of UNCTAD Richard Kozul-Wright. Read also:

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