COVID-19: World Bank, IMF Urged to Cancel Poor Countries’ Debt

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Washington: Around 300 lawmakers from around the world today urged the International Monetary Fund (IMF) and World Bank to cancel the debt of the poorest countries in response to coronavirus pandemic.

In order to boost funding to avert a global economic meltdown in the wake of COVID-19 outbreak, the lawmakers urged the global lenders to cancel debt of the poor countries.

The initiative, led by former U.S. presidential candidate Senator Bernie Sanders and Representative Ilham Omar, a Democrat from Minnesota, comes amid growing concern that developing countries and emerging economies will be devastated by the pandemic.

The virus has infected more than 4.2 million people globally and killed 287,349, according to reports.

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