{"id":23740,"date":"2020-06-21T07:48:36","date_gmt":"2020-06-21T07:48:36","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=23740"},"modified":"2020-06-21T07:48:38","modified_gmt":"2020-06-21T07:48:38","slug":"unctad-cancels-usd-1-trillion-debts-owed-by-developing-countries","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/unctad-cancels-usd-1-trillion-debts-owed-by-developing-countries\/","title":{"rendered":"UNCTAD cancels USD 1 trillion debts owed by developing countries"},"content":{"rendered":"\n<p>The<strong>&nbsp;United Nations Conference on Trade and Development (UNCTAD)<\/strong>&nbsp;has cancelled over&nbsp;<strong>$1 trillion debt&nbsp;<\/strong>owed by developing countries amid the COVID-19 pandemic. It aims to help them overcome the impact of the coronavirus pandemic.<br><br><strong><u>Highlights:<\/u><\/strong><br>\u2666 UNCTAD report stated that over 64 low-income countries currently spend more on debt service than their health systems. For developing countries debt has become inevitable, especially due to the COVID-19 pandemic.&nbsp;<br>\u2666 UNCTAD estimated financing and liquidity requirements due to the pandemic sums up to at least $2.5 trillion.<br>\u2666 The high-income developing nations have debt service obligations of between $2 to $2.3 trillion in 2020 and 2021. Also, the UNCTAD stated that the middle and low-income countries have debt service obligations of $700 billion to $1.1 trillion.<br>\u2666 Earlier, the G20 countries allocated $8 trillion into a stimulus for their own economies. The G20 nations agreed to suspend the bilateral debt service payments by the world&#8217;s poorest countries until the end of 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;United Nations Conference on Trade and Development (UNCTAD)&nbsp;has cancelled over&nbsp;$1 trillion debt&nbsp;owed by developing countries amid the COVID-19 pandemic. It aims to help them overcome the impact of the coronavirus pandemic. Highlights:\u2666 UNCTAD report stated that over 64 low-income countries currently spend more on debt service than their health systems. For developing countries debt has [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":23741,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1012],"tags":[1010],"offerexpiration":[],"class_list":["post-23740","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-april-2020","tag-covid-19"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/23740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=23740"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/23740\/revisions"}],"predecessor-version":[{"id":23742,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/23740\/revisions\/23742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/23741"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=23740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=23740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=23740"},{"taxonomy":"offerexpiration","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/offerexpiration?post=23740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}