Wealthy countries slammed for failing to address debt crisis

tl;dr:

The World Bank and other multilateral development banks are set to find $200bn in extra financing for developing countries by taking on more risk, which is expected to require increased funding from wealthy countries, world leaders announced in Paris on Friday. The World Bank also announced including so-called environmental clauses in new debt, allowing countries faced with an environmental catastrophe to pause debt repayments for two years. According to World Bank figures 60 percent of the developing world - representing 40 percent of global GDP - is at risk of defaulting on loans. The world currently lacks a system to deal with debt relief, and no significant new announcements have been made to solve global debt problems. Leaders will next meet in Nairobi in September to discuss debt and financial reform.

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tl;dr:
The World Bank and other multilateral development banks are set to find $200bn in extra financing for developing countries by taking on more risk, which is expected to require increased funding from wealthy countries, world leaders announced in Paris on Friday. The World Bank also announced including so-called environmental clauses in new debt, allowing countries faced with an environmental catastrophe to pause debt repayments for two years. According to World Bank figures 60 percent of the developing world - representing 40 percent of global GDP - is at risk of defaulting on loans. The world currently lacks a system to deal with debt relief, and no significant new announcements have been made to solve global debt problems. Leaders will next meet in Nairobi in September to discuss debt and financial reform.
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