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World's poorest countries could save over US$12 billion in debt relief programme

The world's poorest countries could save more than US$12 billion owed to sovereign and other creditors this year through their participation in a debt-relief program.
 
This is based on estimates published on Friday in a new database from the World Bank.
 
The savings under the COVID-19-linked Debt Service Suspension Initiative will be short-term, since the initiative only provides for suspension of debt payments through the end of the year. 
 
It postpones payments until a later date but does not cancel them outright.
 


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