Yellen urges Congress to help developing nations

"The pandemic is having a very adverse effect obviously on the economic situation in many of the affected countries," Yellen said.

"We have considerable fiscal space to address its impact and unfortunately many low-income countries do not. Many of them are also mired in debt and unable to meet their debt service burdens. So it's been high priority for us to help them address these debt service burdens that have become unsustainable to provide support to them for debt restructuring where that's necessary."

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