Newsdos
No Result
View All Result
  • Home
  • World
  • Business
  • health
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Life style
  • Tech
Contact Us
Newsdos
  • Home
  • World
  • Business
  • health
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Life style
  • Tech
No Result
View All Result
Newsdos
No Result
View All Result
Home Economy

G20 okays debt suspension for poor countries amid virus

NEWSDOS by NEWSDOS
November 16, 2020
2 min read
0
G20 okays debt suspension for poor countries amid virus


RELATED POSTS

Pandemic hastening shift to digital currency: ECB chief

Brexit Britain is feeling the heat ahead of the US-EU trade talks

Hedgehogs could be at risk in post-Brexit Britain

G20 sets action plan against coronavirus, pledging to navigate through crisis to inclusive global economic recovery.

Facing down the coronavirus pandemic, finance officials from the G20 economies agreed on Wednesday to support a time-bound suspension of debt service payments for the poorest countries that request forbearance.

“Our efforts must continue and be amplified. We commit to use all available policy tools to support the global economy, maintain financial stability and prevent deep economic effects,” G20 finance ministers and central bank governors said in a statement after meeting over the virus crisis.

Members endorsed an action plan in response to COVID-19, pledging to navigate through the crisis to a robust, sustained, and inclusive global economic recovery.

Debt freeze for world’s poorest countries

“We [G20 members] agreed on a coordinated approach with a common term sheet providing the key features for this debt service suspension initiative, which is also agreed by the Paris Club,” they said in a statement.

The G20 also called on private creditors to participate in the initiative on comparable terms.

“We ask multilateral development banks to further explore the options for the suspension of debt service payments over the suspension period, while maintaining their current rating and low cost of funding.”

G20 praises IMF, World Bank relief packages

The G20 members also welcomed rescue steps already taken by the IMF and the World Bank to help countries in need, saying the leading finance institutions are using all instruments to the fullest extent possible as part of a coordinated global response.

“We support the further adoption and swift implementation of a strong financial response to help countries in need and to uphold global financial stability and resilience,” it said.

According to the statement, the financial response includes delivering a comprehensive IMF support package, urgently implementing more than $200 billion in support proposed by the World Bank and multilateral development banks, and addressing debt vulnerabilities in low-income countries due to the pandemic.

The plan will be reviewed regularly as the impact of the COVID-19 pandemic unfolds, it pledged.



Source link

ShareTweetShare
NEWSDOS

NEWSDOS

Related Posts

Pandemic hastening shift to digital currency: ECB chief
Economy

Pandemic hastening shift to digital currency: ECB chief

December 1, 2020
Brexit Britain is feeling the heat ahead of the US-EU trade talks
Economy

Brexit Britain is feeling the heat ahead of the US-EU trade talks

November 18, 2020
Hedgehogs could be at risk in post-Brexit Britain
Economy

Hedgehogs could be at risk in post-Brexit Britain

November 18, 2020
Experts are considering whether COVID-19 will delay Brexit
Economy

Experts are considering whether COVID-19 will delay Brexit

November 17, 2020
Almost 1,300 migrants arrived in the northern Aegean islands in March
Economy

Almost 1,300 migrants arrived in the northern Aegean islands in March

February 8, 2021
Virus brought the worst picture since the Great Depression: IMF
Economy

Virus brought the worst picture since the Great Depression: IMF

November 17, 2020
Next Post
British diplomat jumps into a river to save a drowning woman in China

British diplomat jumps into a river to save a drowning woman in China

RICHARD THOMPSON: Dementia is Britain’s biggest killer – something must be done

RICHARD THOMPSON: Dementia is Britain's biggest killer - something must be done

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Ex-Sainsburys boss Justin King says the Sazka Lottery offer “could revitalize the main streets”.

Ex-Sainsburys boss Justin King says the Sazka Lottery offer “could revitalize the main streets”.

February 14, 2021
The Seminole Heights couple are looking for a mysterious woman who has sent them a Christmas card

The Seminole Heights couple are looking for a mysterious woman who has sent them a Christmas card

December 27, 2020
“We suffocated, it’s that simple”: Rio Ferdinand rules Manchester United from the title race

“We suffocated, it’s that simple”: Rio Ferdinand rules Manchester United from the title race

February 9, 2021

Popular Stories

  • Watch Soul (2020) Disney+ Full Movie Online Free

    0 shares
    Share 0 Tweet 0
  • Watch Monster Hunter (2020) Full Movie Online Free – 123Movies

    0 shares
    Share 0 Tweet 0
  • Watch The Marksman (2021) Full Movie Online For Free

    0 shares
    Share 0 Tweet 0
  • 123MOVIES! The Marksman (2021) Full Movie Watch Online Free

    0 shares
    Share 0 Tweet 0
  • Canelo Alvarez vs Avni Yildirim Live Free Stream Reddit

    0 shares
    Share 0 Tweet 0
Newsdos

We bring you the latest news, helping you to stay informed always on time.

Categories

  • Business
  • Economy
  • Entertainment
  • health
  • Life style
  • Politics
  • Sports
  • Tech
  • Uncategorized
  • World

Recent Posts

  • Guy Hands buys Kier’s house building arm Kier Living for £ 110 million
  • Consumers saved $ 5.4 trillion, according to Moody’s
  • Zoopla boss reveals his plan for a resume for private households

Subscribe

No Result
View All Result
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

© 2020 NewsDos.com All Right Reserved

No Result
View All Result
  • Home
  • Business
  • Economy
  • Entertainment
  • Health
  • Life style
  • Politics
  • Sports
  • Tech
  • World
  • Contact Us

© 2020 NewsDos.com All Right Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.