G30 Group Calls For Urgent Debt Help For Poor Countries

Rich nations, development banks and private creditors need to ramp up support for poorer countries to prevent humanitarian crises and a “lost decade” of global growth, the prominent G30 group of former policymakers and academics said on Wednesday, Reuters reported. How to support struggling countries is the most pressing issue being discussed during the virtual annual meetings of the International Monetary Fund and World Bank this week amid warnings 150 million people could be pushed into extreme poverty by the end of next year. The G30, which includes former U.S. Treasury Secretary Larry Summers, urged the IMF to boost lending. Read more