Banks Warn Debt Forgiveness Will Hurt, Not Help Africa
Scrapping the debt of heavily indebted African nations will only come back to haunt them, according to two of the continent’s largest banks.
“When you go to the market to borrow money, the market is looking at your current and past behavior,” he added. The vow means debt suspension by the Group of 20 leading economies is gaining traction for all types of official funding, after an initial focus on Paris Club agreements.
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