By AFPMore by this AuthorParis,The Covid-19 pandemic has piled pressure on the finances of many emerging countries, leading to calls for some debt payments to be postponed or cancelled altogether. Last month, Lebanon declared a default on debt payments, and this week Argentina said it would delay payment of almost $10 billion in debt. "Investors anticipate the coronavirus shock to growth will be much bigger to emerging countries than developed ones," Dembik told AFP. "In March, capital withdrawn from emerging countries was four times more than in 2008-2009. Some are now calling for the Group of 20 (G20) advanced countries to declare a moratorium on debt payments, or even a cancellation of debts.

Source: Daily Nation April 07, 2020 12:11 UTC