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Rich countries must close the gaps with poor countries

2021-04-06T19:34:36.063Z

Developed countries have a responsibility to reduce the income gap between poor and rich countries, and decades of efforts must not be interrupted by the pandemic, US Treasury Secretary Janet Yellen said on Tuesday. Also read: Digital data can help poor countries improve well-being "It is the responsibility of developed countries to ensure that decades of progress in the fight against global pov



Developed countries have a responsibility to reduce the income gap between poor and rich countries, and decades of efforts must not be interrupted by the pandemic, US Treasury Secretary Janet Yellen said on Tuesday.

Also read: Digital data can help poor countries improve well-being

"It is the responsibility of developed countries to ensure that decades of progress in the fight against global poverty"

are not wiped out, she pleaded in a discussion with the director of the IMF and the president of the World Bank, broadcast on the sidelines of their spring meetings.

It is up to developed countries

"to try to close the income gap between rich and poor countries

,

"

said Minister of Economy and Finance Joe Biden.

"We must ensure that this progress is not trampled by the pandemic"

, and

"I hope that (...) this will be our goal"

at these meetings, she added.

Moratorium on the debt of poor countries

"We must provide a set of resources that your organizations (the IMF and the World Bank, editor's note) can use to help low-income developing countries,"

she said, without giving any further details.

She also again defended the use of a new IMF Special Drawing Rights (SDR) issue, rights equivalent to assets to provide liquidity to affected countries.

"I hope we will move forward on approving an SDR allocation, which I believe would be very important to meet the reserve needs globally, especially low-income countries

,

"

he said. she thus commented.

Finally, the Secretary of the Treasury described as

"extremely important initiative"

the moratorium on the debt of the poorest countries, which could be extended until the end of the year on the occasion of the summit of the G20 big money Wednesday by videoconference.

Source: lefigaro

All business articles on 2021-04-06

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