'We must increase lending to the world’s poorest countries now – or pay the price later' bookmarked by ~theguardian-world

We must increase lending to the world’s poorest countries now – or pay the price later

theguardian.com

Larger economies have been flexible and creative coping with Covid’s impact – the same mindset needs to be applied to helping poorer countriesThe International Monetary Fund (IMF) predicts Africa will suffer its worst recession since the 1970s. For the first time since the 1990s, extreme poverty will increase. The annual death toll from HIV, tuberculosis and malaria is set to double. We also fear a near doubling in the number of people facing starvation. Many girls out of school will never go back. Life expectancy will fall.All this will fuel grievances, and in their wake conflict, instability and refugee flows, all giving succour to extremist groups and terrorists. The consequences will reach far and last long. The Organisation for Economic Co-operation and Development and G20 nations will feel the blowback just as some start to see light at the end of the Covid tunnel. Continue reading...

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IMF urges governments to borrow to fight impact of Covid-19

theguardian.com

IMF says more must be done to tackle rising poverty, unemployment and inequality despite record public...
IMF says more must be done to tackle rising poverty, unemployment and inequality despite record public debtsCoronavirus – latest updatesSee all our coronavirus coverageGovernments will need to step up their efforts to fight the pandemic and the global economic downturn despite public debts reaching record levels, according to the International Monetary Fund.In a clear message to rich countries that they should continue to borrow...
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Calls for debt relief to help world's poorest nations fight coronavirus

theguardian.com

Australia urged to use its influence to push for the permanent cancellation of all debt due...
Australia urged to use its influence to push for the permanent cancellation of all debt due from vulnerable countries in 2020Low-income countries need their debts for 2020 forgiven, alongside billions in emergency grants to survive the Covid-19 crisis, civil society groups around the world have said, arguing the viral pandemic will hit hardest the poorest people in the poorest countries.More than 100 civil society...
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Global leaders urge G20 to tackle twin health and economic crises

theguardian.com

Letter calls for $8bn emergency fund to bolster health systems in world’s poorer countriesA group of...
Letter calls for $8bn emergency fund to bolster health systems in world’s poorer countriesA group of 165 global leaders has called for immediate and coordinated international action to tackle the twin health and economic emergencies caused by the Covid-19 pandemic.Past and present politicians – including three former UK prime ministers – joined academics and civil society representatives to warn the G20 that the virus...
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