UN calls on rich countries to end debt crisis of poorest countries

In a study conducted by the United Nations, the UN called for urgent measures to relieve the debt of 54 countries representing more than half of the world’s poorest population, who live on only about 3% of the global economy.

The study issued by the United Nations Development Program (UNDP) warned that without taking these urgent measures, the poverty rate will rise and will negatively affect the urgently needed investments in light of the climate challenges.

The study highlights the implications and potential impacts of governments’ responses to the recent economic crisis.

The study pointed that rich countries have the necessary resources to end the debt crisis, adding that positive debt restructuring is one of the vital factors that ensure that developing countries have sufficient financial resources to make progress in sustainable development.

It noted that there is an urgent need for new funding sources for investment in order to adapt to climate change and mitigate its effects.