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Washington Post: A rate rise in the U.S. might trigger big problems in the developing world
July 6, 2021
From the article:
Developing country debt willbe on the agenda when the Group of 20 finance ministers and central bank chiefs meet in Venice July 9 to 10. The G-20 last year coordinated an agreement to suspend interest payments that poor countries owed government creditors. After being extended twice, that deal will expire at the end of the year and be replaced by a broader debt restructuring plan called the Common Framework.
“I don’t think we have expectations for major breakthroughs. They’re struggling with the details of implementation. I think it’s going to be a long haul,” said Scott Morris, a senior fellow at the Center for Global Development, which hosted Singh.