Coronavirus-driven debt crisis threatens poor countries already at risk, says UN report

As governments struggle to cope with the COVID-19 pandemic, billions of people living in countries teetering on the brink of economic collapse are being further threatened by a looming debt crisis, according to a UN report.

In its report, the UN-led Inter-Agency Task Force on Financing for Development explores the steps that governments must take to avert debt overload and address the economic and financial havoc caused by the pandemic.

"The global community was already falling behind in efforts to end poverty, take climate action and reduce inequalities," UN Deputy Secretary-General Amina Mohammed said.

"We have one chance to build back better together for people and for the planet."