The debt burden of low-income countries rose 12% to a record $860 billion in 2020, as these countries took action, the World Bank said in a report published on Monday. Huge financial and monetary terms to address the Corona crisis.
World Bank President David Malpass said the report showed a significant increase in debt vulnerabilities facing low- and middle-income countries, and called for urgent steps to help them reach debt levels Religion is more sustainable.
We need a comprehensive approach to the debt problem, including debt reduction, faster restructuring and improved transparency.
It is vital that there are sustainable levels of debt for economic recovery and poverty reduction, he said.
The report, published by CNBC Arabia, showed that the total external debt of low and middle-income countries rose 5.3% in 2020 to $8.7 trillion, including countries In all regions.
He added that the increase in external debt outpaced gross national income and export growth, as the ratio of external debt to gross national income, excluding China, rose five percentage points to 42. % in 2020, while the ratio of debt to exports jumped to 154% in 2020 from 126% in 2019.
The report also showed that net flows from multilateral creditors to low- and middle-income countries increased to $117 billion in 2020, the highest level in ten years.
Net lending to low-income countries rose 25% to $71 billion, also a 10-year high, and the International Monetary Fund and other multilateral creditors provided, he said. $42 billion and $10 billion, respectively.
