Jakarta, IO – The United Nations Development Program (UNDP) warns that a serious debt crisis is brewing in the world’s poorest countries.
It estimated that 54 countries, half of which are poor, are now in need of debt relief to avoid more extreme poverty, Antara reported on Tuesday (11/10).
They also need opportunities to deal with climate change.
“A serious debt crisis is unfolding across developing economies, and the likelihood of a worsening outlook is high,” the report said.
The warning also came as the International Monetary Fund (IMF) and the World Bank met in Washington to discuss heightened fears of a global recession and the debt crisis in a number of countries.
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In addition, UNDP administrator Achim Steiner urged actions such as debt relief and wider assistance to more countries and a breathing room during the crisis. (un)