International News : Mexico urges to solve global debt increase

Mexico urges to solve global debt increase

Mexico City, Nov 23 : Mexican President Andres Manuel Lopez Obrador has urged to resolve the increase in debt at the global level caused by the coronavirus pandemic at the G20 Summit.

On Sunday, the Mexican President presented his country as an example, where public debt rose to 51.1 per cent of the GDP, from 44.8 per cent before the pandemic, reports Xinhua news agency.

“If we do not address this issue now, in the future, it is going to become another threat to economic stability and social welfare,” he added.

Lopez Obrador said that cooperation and mutual aid will enable the world to overcome “this painful period”.

“I hope that we will be able to leave in history an example of how to deal with a global health threat and a serious economic crisis through the application of the principle of universal brotherhood,” he said.

Mexico is one of the hardest-hit Latin American nation by the pandemic and currently accounts for the fourth highest death toll in the world after the US, Brazil and India.

As of Monday, Mexico’s overall caseload and death toll have increased to 1,025,969 and 100,823, respectively.

IANS

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