UN says debt relief not enough
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The United Nations has warned that debt relief is not enough to help some of the world’s poorest countries, most of which are in Africa. A report on the economies of the world’s 48 least developed countries said that more has to be done if they are to escape the aid-and-debt trap. It said Lesotho and Sudan were the only two African countries in the study whose gross domestic product was likely to rise sufficiently to lift them out of least-developed-country status. The report urged rich countries to double their foreign aid - which has dropped by third over the past decade - and to open their markets to exports from poor countries. Aid ineffective But it said there was much that the poor countries themselves could do, including restructuring their economies to attract foreign investments. More: news.bbc.co.uk |