Geneva: A United Nations report has warned that global crises, including the Corona virus and the rise in oil prices, have made it difficult for 54 poor countries to repay their debts, which they urgently need to deal with. Accordingly, relief should be given in loans.
According to the world news agency, the United Nations Development Program monitoring agency "UNDP" has emphasized the need for immediate debt relief to 54 countries including Pakistan.
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The report says that without immediate debt relief, at least 54 countries will see further increases in poverty levels. These countries are also among the most vulnerable to climate change in the world. Investments will be urgently needed to avoid climate change so that its severity can be reduced.
The report revealed that according to available data, 46 of the 54 countries took on a total of $782 billion in public debt in 2020, with Argentina, Ukraine and Venezuela alone accounting for more than a third of this amount.
Similarly, the situation is deteriorating rapidly, at the beginning of this year there were 10 developing countries that were not in a position to lend to any country, but now the number has gone up to 19.
It should be noted that the UNDP report was published after meetings of the International Monetary Fund, World Bank, and G20 Finance Ministers in Washington, which proposed measures to address climate change impacts and debt repayments. had gone
