Exclusive: Countries Struggling with Debt
Diplomats from eight southern and east African nations have urged the UK government to support a private member’s bill aimed at expediting debt restructurings, as economic crises have hindered their ability to repay loans. These countries have faced economic setbacks due to the coronavirus pandemic, the Russian invasion of Ukraine causing inflation, and rising US interest rates increasing the cost of international loans to unsustainable levels. The letter highlights the urgent need for assistance in managing their financial burdens.
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