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World Bank Has Resorted To Shaming G-20 Countries And Hedge Funds For Lending Poor Nations Money

Apparently realizing the world’s inability to inflate away what has become a growing global debt problem, the World Bank has now instead turned to the idea of shaming the countries that hold the debt into offering “relief”.

World Bank President David Malpass said this week that The Group of 20 Nations should be offering debt relief to the poorest nations in the world “through the end of next year”, according to BloombergMalpass also suggested that both “hedge funds” and “China” play a role in the efforts. 

The G-20’s “Debt Service Suspension Initiative” that it implemented in May is providing only “shallow relief” for such nations because of a lack of participation by China and private creditors, Malpass said. 

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