COVID-19 - Featured - Top Stories - World News - March 22, 2021

Rethinking Debt: Financing the future amid crisis

World Bank is set to host a virtual event dubbed “Rethinking Debt: Financing the future amid crisis,” this is in response to the ripple effects of COVID-19 virus, the event will be held in April.

Economies world over have been made vulnerable to shocks such as lockdowns, coupled with other insecurities pertaining trading.

World Bank announced in a press statement that COVID-19 has made clear the need to establish a better way to handle the debt-financing needs of developing economies, which have suffered repeated cycles of debt buildups and crises, resulting in grave setbacks in the fight against extreme poverty.

“This event will explore perspectives on a new international financial architecture for debt, highlighting the consequences of inaction for poverty and development.

“Leaders from government, the private sector and civil society as well as youth aspiring to finance their future from across the world will share their concerns and ideas on what can be done to resolve debt quickly and ensure a green, resilient and inclusive recovery,” read the statement.

The event will run from 6-9 April 2021 and some of the key issues include “COVID-19: Vaccines for developing countries,” and “Economic Recovery: Towards a green resilient and inclusive future.”

 

 

 

 

 

 

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