May 28, 2020 / 12:48 PM / a month ago

Debt relief must be offered to all developing, middle-income countries: U.N. chief

UNITED NATIONS, May 28 (Reuters) - United Nations Secretary-General Antonio Guterres said on Thursday that debt relief “must be extended to all developing, middle-income countries that request forbearance as they lose access to financial markets” amid the coronavirus pandemic.

“Many developing and middle-income countries are highly vulnerable and already in debt distress — or will soon become so, due to the global recession. Alleviating crushing debt cannot be limited to the Least Developed Countries,” he told a U.N. meeting on how to handle the pandemic’s economic fallout.

Reporting by Michelle Nichols Editing by Gareth Jones

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