World Bank chief calls for cancellation of poorests’ debt

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By Phil Thornton
09 Jul 2020

The head of the World Bank has, for the first time, called for parts of the sovereign debts owed by the world’s poorest countries to official bilateral creditors to be cancelled, in the face of the coronavirus’s impact.

David Malpass, the World Bank’s president, said some very heavily indebted countries were already in extreme debt distress. Many more would be in debt distress before the crisis was over, he warned.

“In such circumstances, rolling over debt only kicks the can down the road,” he told a ...

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