1、 https:/crsreports.congress.gov July 16, 2021Sovereign Debt and the COVID-19 PandemicThe Coronavirus Disease 2019 (COVID-19) pandemic and the ensuing downturn in economic growth has had significant economic and financial consequence for low-income countries. The World Bank estimates that the pandemi
2、c led to 97 million more people being in poverty in 2020. Several countries have already defaulted on their sovereign debt, and many others are at high levels of debt distress, potentially impeding their ability to support recovery. The United States is participating in two G20 creditor country-led
3、debt relief initiatives. The Biden Administration is requesting $52 million in FY2022 funds from Congress to support these efforts. Members of Congress have also introduced sovereign debt-related legislation aimed at improving the transparency of the scale and scope of creditor countries sovereign l
4、ending (e.g., S. 1169). China is now the largest creditor to developing countries, and some Members have raised concerns about the economic and security impacts of Chinas economic diplomacy. Some Members have also expressed concerns about the growing complexity of sovereign debt financing and its as
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