United Nations defends debt forgiveness and growth-linked interest

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United Nations defends debt forgiveness and growth-linked interest
United Nations defends debt forgiveness and growth-linked interest

Africa-Press – Angola. The United Nations Development Program (UNDP) today advocated new instruments to relieve the most vulnerable countries of the debt burden, including interest indexed to the countries’ economic growth rates and debt forgiveness.

“To avoid a repeat of previous debt crises and a new ‘lost decade’, debt restructurings should not prioritize debt maturity extensions and interest rate reductions over ‘write-down’ debt relief. , in the original in English] if and when the Debt Sustainability Analysis suggests that these pardons are necessary to restore sustainability”, writes UNDP economist Lars Jensen quoted by Lusa.

In a study released today, entitled “Avoiding ‘too little, too late’ in international debt relief”, and released in time to be debated at the Annual Meetings of the International Monetary Fund and the World Bank this week in Washington, UNDP advocates a set of new instruments to avoid a debt crisis that mainly affects African countries, including Portuguese-speaking Angola, São Tomé and Príncipe, Guinea-Bissau and Mozambique, which are on the list of the 54 countries most vulnerable to debt.

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