US cancels $1.1bn of Somalia’s debt in ‘historic’ financial agreement
Commitment by Mogadishu’s largest single lender is latest in series of deals to forgive ‘unsustainable’ $4.5bn debt Somalia has announced that more than $1.1bn (£860m)...
Category : Debt relief
Covid pandemic made poorest countries even worse off, World Bank warns
Poverty reduction drive all but halted across many nations as Bank calls for more money to tackle a ‘great reversal’ Larry Elliott: At last G20...
Somalia has 99% of $2bn debt cancelled in major boost to fragile recovery
Paris Club of creditor nations agree cancellation as Mogadishu moves towards financial normalisation amid ongoing conflict The Paris Club, a collection of some of the...
China needs to do more on ‘silent crisis’ of debt, says World Bank official
Beijing must be more ready to support countries facing distress, says deputy chief economist China holds the key to speeding up debt relief and ending...
IMF calls for ‘another Gleneagles moment’ on debt relief and aid
Package similar to 2005 deal needed as struggling African countries suffer severe funding squeeze, says official Western countries need to put together a debt relief...
Lenders urged to cancel Zambia debt as country faces economic collapse
Economists accuse bondholders of standing to make huge profits at the expense of the crisis-hit country More than 100 economists and academics have urged international...
West must force private lenders to ease Africa’s crippling debt, say campaigners
Banks and traders have been ‘let off the hook’ by G7 despite being more to blame for the looming crisis than China Western governments should...
