BB: Economic recovery requires write-off in poor countries

Overcoming the economic consequences of COVIID-19 requires international co-operation and lowering debt in poor countries, according to World Bank President (BB), David Malpas.

Some of the countries are seeing a strong recovery now. This will help everyone else, we all benefit from this”, Malpas explained, referring to the global economy, reports ATS.

However, in order to have a flexible recovery, we need growth coming from poorer countries”, he added.

According to the WB leader, a key element for achieving this is for debt levels to become more stable, meaning they should be lower.