As the sense of emergency and worsening crisis in poor countries arising out of the onslaught of the coronavirus pandemic becomes increasingly clear, World Bank Group President David Malpass has called for a refashioning of the arrangements governing the management of the debt burden of those countries in order to further accentuate an already critical situation.
“The urgency is clear. We need to avoid repeating the protracted debt restructuring processes that delayed past recoveries and created cycles of unsustainable debt,” Malpass told the November 16 meeting of the Executive Board of the World Food Programme.