Experts Propose Debt Relief Plan for Developing Nations
Development experts proposed a new initiative to help heavily indebted developing countries access fresh funds and private capital. The plan coordinates the IMF and World Bank to inject affordable financing and address high interest burdens.
Coordinating Global Relief
Three development experts proposed a new initiative on an autumn Wednesday to help developing countries access fresh funds and avoid debt distress. The Growth and Investment Reset plan comes ahead of annual meetings of the IMF and World Bank. Interest payments now exceed 10% of revenue in developing countries on average, crowding out vital public investments.
