The Financial Times newspaper deserves a lot of credit for calling out the world’s wealthiest governments for their glaring hypocrisy on the issue of African debt relief. While treasuries in the U.S., Europe, Japan, and China come up with new creative solutions to insulate their populations from the effects of the economic downturn brought on by the COVID-19 outbreak, they have all but abandoned the world’s poorest countries.
Forget about any moral obligation here, we’re well past that. Debt relief isn’t about doing the “right thing,” instead, these wealthy countries should see that it’s in their own national interests to help stabilize countries in the Global South that are now teetering on the edge of a dangerous precipice.
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There’s an enormous disconnect between how the Chinese are approaching the debt crisis in poor countries and the expectations of the world’s legacy donors. People like World Bank President David Malpass seem befuddled ...
Is unrelenting grimness more palatable if it is also instructive? Africa’s current debt crisis will soon provide an answer. The continent’s slide into debt distress due to the COVID-19 pandemic has been very ...
The Chinese government is under mounting pressure from both the United States and the International Monetary Fund to do more to help resolve the worsening debt crisis in Sri ...
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