Chief economist says common framework has failed to provide any new money to world’s poorest countries since it was set up in 2020
The mechanism for providing debt relief to the world’s poorest countries is failing to produce results and requires a major rethink, a senior official at the World Bank has said.
Indermit Gill, the bank’s chief economist, said that after four years the G20’s common framework – designed to speed up and simplify debt restructuring – had not provided a single dollar of new money.
About Author
More Stories
Australian house prices hit new peak as rate cut drives buyer demand
‘Fruit of the devil’: Hainan’s betel nut sellers suffer from stuttering economy
Volatility grips global stock markets as Trump insists on tariff ‘medicine’