Malpass Surprised Over Lack of Progress on Emerging Market Commercial Debt Relief

World Bank President David Malpass called on governments, including China, to pressure their countries’ private creditor institutions to do more to help alleviate debt pressures in emerging markets.

Malpass is apparently surprised that investors are continuing to extract profits from vulnerable low-income countries in Africa and other developing regions. “I’m frustrated that commercial creditors have been continuing to take very large payments from the poorest countries,” he said according to a report in the Financial Times.

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by Eric Olander

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