More than 100 countries face spending cuts as Covid worsens debt crisis, report warns

Posted by on September 23, 2021 1:00 am
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Categories: Global Stories

As pandemic widens inequalities, many developing countries spend more on debt than health, study says

More than 100 countries face cuts to public spending on health, education and social protection as the Covid-19 pandemic compounds already high levels of debt, a new report says.

The International Monetary Fund believes that 35 to 40 countries are “debt distressed” – defined as when a country is experiencing difficulties in servicing its debt, such as when there are arrears or debt restructuring.

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