Nigeria finance minister says developing countries paying $500 billion too much to refinance debt
TLT•Nigeria Finance Minister Taiwo Oyedele said developing countries pay $500 billion more than developed countries to refinance debt. The Group of 24 expects the World Bank and others to deliver at least $300 billion a year in private finance by 2035.
1. Debt refinancing costs
Oyedele said developing countries are paying $500 billion more than developed countries to refinance debt. Citing a Group of 24 communique, he called debt vulnerability a major barrier to inclusive growth and said the group expects the World Bank and others to deliver at least $300 billion a year in private finance by 2035.
