WASHINGTON (Reuters) – World Bank President David Malpass said on Wednesday that some of the poor-country debt restructurings being done under a new G20 framework involve reductions of interest rates, a move that he views as having a major positive impact on debtors’ citizens.
Malpass told the Reuters Next conference that some developing countries are paying very high interest rates of 6% to 7% on official bilateral debt and debt reduction could provide some relief.
Malpass also said he hoped that the G20 Debt Service Suspension Initiative (DSSI) could be extended beyond the end of June but could not prejudge this decision.
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(Reporting by Andrea Shalal and David Lawder; Editing by Chizu Nomiyama)
