From the Document: "The 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 pandemic 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."
CRS In Focus, IF11880
Congressional Research Service: https://crsreports.congress.gov/