The US agency’s report said that about $520 billion in debt owed by distressed economies should be forgiven.
The US report said that countries such as Pakistan, Malawi and Ethiopia are facing economic downturns and financial pressures due to the recent climate crisis.
The US report said that debt relief for developing countries at risk of bankruptcy would improve their financial situation and meet climate and development goals.
According to the report, next week’s meeting of the World Bank and the IMF will be on the agenda to discuss ways to bail out countries at risk of bankruptcy.
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