• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

World Bank’s Banga Says More Bilateral Debt Forgiveness Needed

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
72
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

World Bank’s Banga Says More Bilateral Debt Forgiveness Needed

World Bank President Ajay Banga said on Thursday (17 October) that bilateral creditors need to provide more debt forgiveness to poor debt-distressed countries, and that the development lender was working on ways to ease service costs to improve development outcomes.

Banga, speaking to reporters ahead of World Bank and International Monetary Fund annual meetings next week, said the bank has already answered calls for its share of debt relief in restructurings by providing billions of dollars in additional grants and deeply discounted loans to debtor countries.

Some US$16 billion to US$17 billion has gone to Zambia, Chad, Ethiopia, and Ghana during their slow and painful debt restructuring processes.

“Effectively, what we’re doing is giving them the lifeline they need, whether you do it as a debt forgiveness or you give them a grant,” Banga said. “Debt forgiveness is required, but not from us. It’s required from those creditors. That’s the issue we’re trying to work our way through.”

Banga did not specifically mention China, which has been among the largest creditors to debt-distressed countries and has been slow to agree to reductions in debt principal.

Banga said that the World Bank was working with several countries on potential ways to re-profile debt to reduce servicing costs “and take the distance and put it into development, life, education, what you would call a debt-for-development swap.”

RelatedPosts

Why International Banks Are Leaving Africa

Nigeria, South Africa Removed From Global Dirty-Money List

GPL: Heart of Lions roar back to winning ways to reclaim top spot

Source: reuters
Via: norvanreports
Tags: Bilateral Debt ForgivenessWorld BankWorld Bank’s Banga Says More Bilateral Debt Forgiveness Needed

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

English Club Sheffield Wednesday Faces Uncertain Future After Administration and Point Deduction

Rampant Wydad thrash Asante Kotoko 5–1 as Moroccans march into group phase of CAF Confédération Cup

ADB Asset Value Rises to GHS 16.2bn; Profit-after-tax Jumps to GHS 282m in Q3 2025

Gold Price Could Reach $5,055 by Q4 2026, Says JPMorgan

Flick looks to match Guardiola record as Barça visit Real Madrid in El Clasico

TotalEnergies CAF Champions League: All to Play for as Clubs Chase Group Stage Qualification

Trending

Banking & Finance

Why International Banks Are Leaving Africa

October 25, 2025

Why International Banks Are Leaving Africa International banks are increasingly withdrawing from Africa because they consider doing...

Nigeria, South Africa Removed From Global Dirty-Money List

October 25, 2025

GPL: Heart of Lions roar back to winning ways to reclaim top spot

October 25, 2025

English Club Sheffield Wednesday Faces Uncertain Future After Administration and Point Deduction

October 25, 2025

Rampant Wydad thrash Asante Kotoko 5–1 as Moroccans march into group phase of CAF Confédération Cup

October 25, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.