G20 announces one-year debt relief for poorest nations
WEB DESK – The Group of 20 nations has announced one-year debt relief for the world’s poorest nations as they struggle to financially cope with coronavirus pandemic.
In a communique following their virtual meeting, G-20 Finance Ministers and governors of central banks said they support a time-bound suspension of the debt service payments for the poorest countries that request forbearance.
The Group announced support for a temporary halt to debt payments by the world’s poorest nations amid Coronavirus pandemic.
The G-20 group also called on private creditors, working under the Institute of International Finance, to participate in the initiative that extends to world’s 76 poorest countries.
