Devastated Nepal Daily Pays $600,000 on Debt (tags)
Nepal underwent another earthquake on May 12 amid recovery from the April 25 quake. It owes billions of dollars of debt to the World Bank, the Asian Development Bank, the International Monetary Fund and foreign lenders. Anti-poverty organization Jubilee USA Network states that debt relief would aid Nepal's recovery efforts.
Aftershocks Pummel Highly Indebted Nepal: Poor Country Spends 217 Million Annually on Debt (tags)
As Nepal experiences aftershocks from Saturday's earthquake, it may find relief in the IMF's Catastrophe Containment and Relief Trust, a fund that cancels the debt of poor countries in crisis.