Article 1A0D4 World's poorest countries rocked by commodity slump and strong dollar

World's poorest countries rocked by commodity slump and strong dollar

by
Katie Allen
from on (#1A0D4)

Jubilee Debt Campaign warns that developing countries are struggling to make debt payments as revenues deteriorate

The collapse in global commodity prices and a stronger US dollar have depleted the public coffers of some of the world's poorest countries and will leave them as much as $61bn (43bn) worse off this year, a report has warned.

The Jubilee Debt Campaign said that countries that relied on exports of commodities such as metals and oil had seen government revenues hit by a global markets rout last year that knocked the prices of crude oil, iron ore, copper and other raw materials to multi-year lows.

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