G20 frees debts of low-income countries: those who will receive benefits

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G20 countries do their best to strengthen the global economy in an epidemic

The G20 releases debt from low-income countries: those who will receive benefits. Photo: Factor

The G20 decided to postpone debt service payments for the world’s poorest countries. We are talking about countries like Angola, Cambodia, Haiti, Nepal and others. The list includes more than 47 states. This decision will be valid from May 1 to the end of 2020.

The proposal to suspend the “debt burden” is open to the world’s poorest and least developed countries (as defined by the World Bank and the United Nations) until they repay the debt of the WB and IMF. This initiative is part of an effort to strengthen the global economy in coronavirus outbreaks.

Supported by the Paris Club of Lenders, the initiative is part of a globally coordinated effort to strengthen the global economy, which is facing the deepest recession since the Great Depression of the 1930s due to the epidemic.

German Finance Minister Olaf Scholz called the move “an act of international solidarity”, saying it would allow countries to invest in healthcare “immediately and without painstaking personal expertise.”

Summary PAYSPACE magazine

Recall, with Google Charity Fund, GiveDirectly, began raising funds to help five thousand families living in the San Francisco Bay Area, USA. This is an area which suffers huge economic losses from the coronovirus epidemic.

The collaboration aims to raise $ 5 million, so that each family receives $ 1000. The fund has already invested $ 1 million, the same amount being allocated by the head of the alphabet Sundar Pichai. As of Monday, more than $ 2.45 million had been raised from the planned amount.

Read: The Ministry of Social Policy talked about financial assistance to Ukrainians: who would receive “thousand” Zelensky.

By content: Reuters


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