Washington Post

In a time of global crisis, should the world cancel poor countries' debts?

One reason for its opposition is an unwillingness to create a mechanism that boosts the foreign reserves of adversarial countries such as  Venezuela without forcing them to make any concessions. Foto: Washington Post photo by Michael Robinson Chavez

The global economy continues to shrink. On Tuesday, International Monetary Fund Managing Director Kristalina Georgieva said it was "very likely" her organization would further cut its global growth forecasts in the months to come, as the economic impact of the coronavirus pandemic deepens.

Experts predict recessions, spiking poverty rates and growing hunger and joblessness in countries with little to no social safety nets - outcomes precipitated by the broader pandemic-era paralysis imposed on much of the world. The lives of tens of millions now hang in the balance...

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