No relief in sight: French private financial institutions demand debt service repayment despite the Covid crisis
Poor countries have already been weakened by unsustainable debt burden—now they are hard hit by the Covid-19 pandemic and the ensuing economic crisis. The annual burden of loans
reached $370 billion in 2019, just prior to the pandemic. That’s a considerable sum of money that should now be spent on strengthening the health systems and essential services of those countries, and on boosting their economies.