World Bank expects debt crisis to continue to worsen in 2022 ...Middle East

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WASHINGTON: Due to high debt and deficit levels, countries are “under severe financial stress”, and the debt crisis is expected to “continue to worsen” in 2022, World Bank Group President David Malpass said on Monday, reported Xinhua.Noting that debt is one of the two big problems facing global growth, Malpass said at a Spring Meetings media roundtable that 60 per cent of low-income countries are already in debt distress or at high risk of it.Debt crises and currency depreciations have a burden that “falls heavily on the poor”, he said.The 2022 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group are set to take place from Monday, April 18, through Sunday, April

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World Bank expects debt crisis to continue to worsen in 2022 ...Middle East

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