Mexican President Calls on Rich Countries to Lessen Debt for Poorer Nations

The leftist president has warned against taking on debt and bailing out companies, even as Mexico’s economy is set to contract 10% this year, its worst slump since the Great Depression.

RIO DE JANEIRO, BRAZIL - Mexican President Andres Manuel Lopez Obrador on Sunday called on the Group of 20 (G20) major economies to improve external debt conditions for poor and middle-income countries, as the global economy suffers a recession from the coronavirus crisis.

The leftist president has warned against taking on debt and bailing out companies, even as Mexico’s economy is set to contract 10% this year, its worst slump since the Great Depression.

“Our proposal consists in ... making a reality the commitment to remove sums of debt and debt-servicing to the poor nations of the world,” Lopez . . .

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