debt

The finance ministers of the G20 countries have decided to extend the moratorium on debt service in the poorest countries by six months (until June), which has already given 46 countries out of 73 the right to suspend a global repayment amount estimated at five billion dollars. The moratorium was expected, although the IMF and the World Bank, as well as a number of NGOs fighting poverty, this gesture is still insufficient given the needs of poor countries. An extension of the moratorium was expected. But many were hoping…

Zambia has failed to secure a moratorium on its Eurobond debt from its private creditors. Zambia is one of the many countries that have become indebted to Eurobonds in recent years. As the IMF worries about an alarming rise in debt in Africa, several African countries could quickly default on their payments. The event did not…