The head of the World Bank has called for ‘comprehensive’ debt relief for developing countries.

Economy(Accountancy) Net inflows of $117 billion from multilateral creditors to low- and middle-income countries are expected in 2020. Due to the pandemic, debt loads in low-income nations increased by 12% to a record $860 billion in 2020, causing World Bank President David Malpass to call for a “comprehensive plan” to address the problem on Monday.

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