G20 agrees debt relief for poorest nations

Kristalina Georgieva
Kristalina Georgieva welcomed the measures
IMF

The Group of 20 has agreed to offer debt relief to poorer countries that are struggling to finance actions to fight the Covid-19 pandemic.

After virtual talks today (April 15), the G20 nations agreed a “time-bound suspension” of debt payments for “the poorest countries”, if they request forbearance. The G20 said it had drawn up a joint “term sheet” to provide a common template for the initiative. The Paris Club of rich creditor nations is also backing the initiative.

In a joint statement

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