The President of the "World Bank" David Malpass warned that "the repercussions of the emerging Coronavirus threaten to push an additional 100 million people around the world to the extreme poverty line,” noting that "our estimates indicate that between 70 and 100 million people may fall into extreme poverty and this number may increase if the epidemic worsens or is prolonged, noting that previous estimates were at around 60 million people."
In an interview with Agence France-Presse, Malpass indicated that "this matter makes it imperative for creditors to reduce the debts of poor countries, and will force more countries to restructure their debts," stressing that "the risks related to debt are high, and it is necessary for countries with high debt to see the light at the end of the tunnel so that new investors can come to it."
He pointed out that "extending the payment period will not be sufficient, because the economic downturn means that these countries, which are already struggling to provide a social safety net for their citizens will find it difficult to pay these dues."
Source (Economic Bulletin website, Edited)
