(VOVWORLD) - The UN Development Program (UNDP) has said bold new solutions are urgently needed to help low- and middle-income countries address crippling debt, sharply worsened by the COVID-19 pandemic.
The report analyses debt vulnerability across 120 low- and middle-income economies and classifies 72 economies as “vulnerable.”
The report says without additional relief, the possibility of a prolonged debt crisis will leave countries with crushing debt burdens for years, which may cause a globalcrisis.
Among the most vulnerable countries, the UNDP has particularly noted Bolivia, El Salvador, Honduras, Costa Rica, and Nicaragua.