UN seeks help for developing world hit by rising debt costs

GENEVA (AP) — The United Nations’ development program is calling on rich countries and financial institutions in them to do more to help alleviate a growing debt crisis faced by the world’s poorest countries, including by writing off debts, not just rescheduling them. A report from UNDP released on Tuesday comes amid meetings by the World Bank, International Monetary Fund and Group of 20 countries in Washington that are expected to consider in part a growing debt crisis that is weighing on the developing world, as interest rates have risen this year and driven up borrowing costs.