WB: Poorest nations’ debts reach record levels in 2020

The debt burden of low-income countries amid the coronavirus pandemic increased by 12% in 2020 to reach a record $860 billion.

Such an assessment is contained in the report of the World Bank (WB) published on Monday, Report informs, citing TASS.

Countries around the world have responded to the pandemic with the introduction of various large-scale packages of measures aimed at combating the coronavirus and overcoming the economic consequences of its spread.

“While these measures were aimed at addressing the emergency situation in the [public] health sector, mitigating the impact of the pandemic on the poor and vulnerable [countries], and putting states on a recovery path, the debt burden of low-income countries increased by 12% in 2020, to a record $860 billion," the message says.