BBC features Eric LeCompte on the creation of $650 billion SDRs destined to underpin the global economic recovery and help the nations that face gigantic levels of debt. Read an excerpt below, and click here for the full story.

FMI: cuánto dinero recibirá cada país de América Latina con la mayor inyección de recursos que ha aprobado el organismo en toda su historia

By Cecilia Barría

Latin American countries are trying to stand up and accelerate economic recovery after the harsh recession caused by the covid-19 pandemic.

Those who have the most uphill path are those with few fiscal reserves to allow them to guarantee their stability and with little access to credit in international markets due to their high level of risk.

Eric LeCompte, Executive Director of Jubilee USA Network, said the measure will benefit developing countries, but it will not be enough.

"Rich countries that receive emergency reserves they don't need should transfer those resources to developing countries fighting the pandemic," he said.

 

Read more here.