The World Bank published on Tuesday, February 15, 2022, its World Development Report 2022. The Report which examines the financial precariousness caused by the COVID-19 crisis and the lack of transparency of debt data, proposes priorities for action in the service of a fair recovery.

The support measures undertaken by the public authorities have revealed several problems related to private debt which must be addressed at the earliest. These include the lack of transparency in reporting on non-performing loans, the late processing of troubled assets, and the tightening or loss of access to credit for the most vulnerable households and businesses.

Thus, the Bretton Woods institution, in its conclusions, draws attention to several priority areas for action, including the early detection of financial risks. Since few countries have the fiscal space and capacity to tackle all the challenges they face at once, the report demonstrates how they can prioritize resources according to their circumstances. The report also calls for proactive management of distressed loans. Finally, ensuring access to financial services for all is essential to support recovery from a historic pandemic.