Creditors must unite to find economic solutions
Professor Rodrigo Olivares-Caminal was interviewed by Bloomberg Radio’s Daybreak Europe programme about debt relief for developing countries during coronavirus
Professor Rodrigo Olivares-Caminal, Chair in Banking and Finance Law at Queen Mary’s Centre for Commercial Law Studies was interviewed by Bloomberg Radio’s Daybreak Europe programme about debt relief for developing countries, as part of their battle with coronavirus. He said: “The debate at the moment is around the general postponement of interest [for debts from developing countries]. The narrative is starting to shift, from postponement of interest to foregoing the interest all together. I personally don’t think that should be the way forward.” Professor Olivares-Caminal goes on to comment on the need for breathing space, and that “There is no one size fits all solution because not all African countries are in the same situation. The first thing will be to distinguish which countries really need that breathing space”.