Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 31/03/2020 11:09 
25.03.2020 21:57 News >> World Bank, IMF Seek Debt Relief For Poor Countries

World Bank, IMF Seek Debt Relief For Poor Countries

Financial institutions urge creditors to suspend debt payments of world’s poorest countries.

The World Bank Group (WBG) and the International Monetary Fund (IMF) on Wednesday urged creditors to suspend debt payments of the world's poorest countries in the wake of the coronavirus pandemic.
In a joint statement on the eve of the G20 virtual summit on COVID-19, the institutions said the global crisis will have "severe economic and social consequences" in International Development Association (IDA) countries.
"IDA countries, [are] home to a quarter of the world's population and two-thirds of the world's population living in extreme poverty," read the statement.
IDA countries, which are currently 76 in number, had gross national income per capita under $1,175 in 2020, according to the association's website.
"This [suspension of debt payments] will help with IDA countries' immediate liquidity needs to tackle challenges posed by the coronavirus outbreak and allow time for an assessment of the crisis impact and financing needs for each country," read the statement.
"We invite G20 leaders to task the WBG and the IMF to make these assessments, including identifying the countries with unsustainable debt situations, and to prepare a proposal for comprehensive action by official bilateral creditors to address both the financing and debt relief needs of IDA countries."
Leaders of G20 countries will hold a virtual meeting on the COVID-19 pandemic on Thursday, which will be chaired by Saudi Arabia's King Salman bin Abdulaziz Al Saud. -



        Latest News
India, Pakistan Grappling With Archaic Epidemic Law -45 minutes ago...
Still to update 1897 British law, India, Pakistan see COVID 19 as disaster to enable strict government response.
Turkey's Exports Up 2.3% To $14.65B In February -44 minutes ago...
Foreign trade deficit reaches $2.98B in February, official figures show.
Turkey 'Neutralizes' 9 YPG/PKK Terrorists In NW Syria -30 minutes ago...
Turkish Defense Ministry says terrorists were trying to infiltrate Operation Peace Spring zone.
Oil Prices Up As US, Russia Set To Discuss Oil Market -30 minutes ago...
It is unlikely for Moscow to break bread with Washington since it struggles to maintain market share against US shale.
Turkey: Prototype Of 1St Locally Made Ventilator Ready 0 minutes ago...
Ventilator designed, manufactured by Turkish technology firm BIOSYS.

 
      Top News
Oil Prices Up As US, Russia Set To Discuss Oil Market Oil Prices Up As US, Russia Set To Discuss Oil Market
Morning Briefing - March 31, 2020 Morning Briefing - March 31, 2020
Istanbul Suspends Sea Passenger Links To Other Cities Istanbul Suspends Sea Passenger Links To Other Cities
US Coronavirus Deaths Surpass Grim 2,500 Mark: Study US Coronavirus Deaths Surpass Grim 2,500 Mark: Study
Turkey: Banks Register $2.4B Net Profit In Feb-Jan Turkey: Banks Register $2.4B Net Profit In Feb-Jan
Turkey: Academic Who Beat Virus Urges All To Stay Put Turkey: Academic Who Beat Virus Urges All To Stay Put
Turkey's Borsa Istanbul Starts Week Looking Down Turkey's Borsa Istanbul Starts Week Looking Down
Israeli PM's Aide Tests Positive For COVID-19 Israeli PM's Aide Tests Positive For COVID-19
Turkey Denies Claims Of Inaccurate COVID-19 Data Turkey Denies Claims Of Inaccurate COVID-19 Data
Trump: US Won't Pay For Security Of Prince Harry, Wife Trump: US Won't Pay For Security Of Prince Harry, Wife