Lawmakers around the world call on the IMF and the World Bank to cancel loans to poor countries

Washington – More than 300 lawmakers around the world have called on the IMF and the World Bank to cancel loans to the poorest countries due to the coronavirus and increase funding to avert a global economic crisis.

 According to the latest news, the appeal came in letters sent to the heads of the World Bank and the IMF, as well as to US President Donald Trump and other world leaders.

 He asked both international organizations to respond within 15 days.

It should be noted that the massive lockdown aimed at controlling the virus has left the global economy, especially poor countries with weak health systems, high levels of debt and limited resources, unable to cope with both health and economic crises there are difficulties.

 Cristalina Georgia, the IMF’s managing director, said on Tuesday that the agency was likely to review its global output forecast for 2020 and reduce it further.

 He said developing countries would need more than 2.5$ trillion in funding to deal with the crisis.

 Former U.S. presidential candidate Senator Bernie Sanders, who led the move with Minnesota Democrat Elhan Omar, said poor countries need our money to care for their people, instead.  That they repay the ‘unsecured loans’ owed to large international financial institutions.

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