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G20 countries ready to alleviate emerging market debt

2020-03-31T20:18:26.145Z


The major powers display a multilateral response to the health and economic crisis of the coronavirus, with a common "roadmap".


Five days after the virtual summit of heads of state, under the Saudi presidency, it was the turn of the finance ministers and central bankers of the big powers (the G20) to hold a videoconference on Tuesday. Objective: to advance the “ joint action plan to respond to Covid-19 ”. A progress meeting between declarations of intent and actions.

Read also: The UN claims 2,500 billion for poor countries

Participants agreed on a " road map " to implement the commitments of the heads of state and government, their joint one-page statement said. The very existence of this document, which was not assured before the meeting, testifies at least to the will of the great people of this world to display a multilateral response to the double crisis, health and economic, of the coronavirus.

One of the priorities mentioned on Tuesday is to reduce the debt burden of the poorest countries. Kristalina Georgieva, the managing director of the International Monetary Fund (IMF) and David Malpass, the president of the World Bank, plead in this direction, supported by Emmanuel Macron last week and Bruno Le Maire Tuesday.

Read also: Coronavirus: the IMF calls for doing "more rather than not enough"

To set an example, the IMF announces that its debtors will be able to devote their next repayment periods to investments in the fight against the pandemic. Bulgaria, who was appointed head of the IMF last year, said 85 countries, plunged into the coronavirus crisis, have appealed to him for emergency financial assistance. For its part, the World Bank says it is ready to release 160 billion dollars over the next fifteen months to support vulnerable countries.

Source: lefigaro

All news articles on 2020-03-31

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