By BUUMBA CHIMBULUAROUND US$35 billion in bilateral and private debt-service payments will this year become due on the public and publicly guaranteed debt of the International Development Association (IDA) countries such as Zambia, says the World Bank Group.IDA, which Zambia is part of, is a portion of the World Bank Group that helps the world’s poorest countries.In 2022 alone, around $35 billion in bilateral and private debt-service payments will become due on the public and publicly guaranteed debt of IDA countries, says World Bank Group president, David Malpass.Mr Malpass said given that burden, vulnerable countries would find it increasingly difficult to support recovery or direct resources to health, education, social protection, and climate.He said this in the Group’s Global Economic Prospects released this month.“Some of the most important steps to contain inequality can come from domestic growth and innovation. The digital revolution offers an opportunity to strengthen social protection systems and health and education services.“It […]
WB PROJECTS $35BN DEBT FOR IDA COUNTRIES
