March 29, 2021

DG Okonjo-Iweala: Action on trade can help alleviate debt pressures for poorest countries

Speaking at a High-Level Meeting with Heads of State and Government on the International Debt Architecture and Liquidity on 29 March, Director-General Okonjo-Iweala said that by closing off export opportunities and lowering commodity prices, COVID-19 has worsened debt dynamics for many developing countries. She stressed that lowering trade barriers and improving access to trade finance could help alleviate debt pressures. “By delivering results at the WTO this year, governments can reinforce the predictable framework of rules that underpin global trade and enhance the ability of countries to earn the foreign exchange they need,” she said. Her remarks are below.

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