World Bank President David Malpass on Thursday said progress on sovereign debt issues would be measured by actual restructuring deals being agreed for Ghana, Ethiopia and Zambia, and said there was still no agreement on his longstanding call for a standstill in debt service payments for countries seeking help.
Africa is facing a severe financing squeeze that, on the back of a series of unprecedented shocks, is disrupting economic growth and endangering its long-term development, the International Monetary Fund's (IMF) top official for the region said.
Developed countries should speed up agreed climate change mitigation investments and technology development, said a joint statement from Brazil and China on Friday.
World Bank President David Malpass on Thursday said he hoped Zambia's creditors, including China, would sign a memorandum of understanding on its debt restructuring this week or next.
World Bank President David Malpass on Thursday said progress on sovereign debt issues would be measured by actual restructuring deals being agreed for Ghana, Ethiopia and Zambia, and said there was still no agreement on his longstanding call for a standstill in debt service payments for countries seeking help.