Social groups urge mass debt relief for poor countries hit by virus crisis

TheStar Tue, Apr 07, 2020 08:56pm - 4 years View Original


LONDON, April 7 (Reuters) - Nearly 140 campaign groups and charities urged the International Monetary Fund and World Bank, G20 governments and private creditors on Tuesday to help the world's poorest countries through the coronavirus crisis by cancelling debt payments.

The call, spearheaded by the British-based Jubilee Debt Campaign, comes a day before a Group of 20 working group is due to meet, tasked with the coronavirus response for developing countries.

Separately, Ghana Finance Minister Ken Ofori-Atta, who chairs the Development Committee advising the IMF and World Bank, singled out China -- Africa's largest bilateral creditor -- to do more to relieve its debt burden.

The Jubilee Debt campaign urges the immediate cancellation of 69 poor countries' debt payments for the rest of the year, including to private creditors, estimating that it would free over US$25 billion for the countries, or US$50 billion if extended through 2021.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

MAYU 0.295

Comments

Leong Tan
Like · Reply
this atta when will resume...
Yap Mei Wven
Like · Reply
Related to ATTA??? ?? This share still under suspension by BURSA.....

Login to comment.