Women gather grain spilled by cargo trucks from Zambia along a highway in Magunje, Zimbabwe, Feb 20, 2016. REUTERS/Philimon Bulawayo/File photo LONDON  – Some of the world's poorest countries face budget cuts topping $220 billion over the coming five years due to a debt crisis that has pushed dozens to the brink of default, according to an Oxfam International report released on Monday. Oxfam's report, released at the start of the IMF-World Bank meetings in Marrakech and drawing on IMF outlooks, also found that on current terms, low- and lower-middle income countries face nearly half a billion dollars a day in interest and debt repayments through 2029.

https://business.inquirer.net/425607/emerging-economies-face-220b-in-budget-cuts-amid-debt-crisis-oxfam

#inquirer