G20 agrees on debt relief for low-income nations

G20 agrees on debt relief for low-income nations

Apr 16, 2020

Riyadh (Saudi Arabia), Apr 16: The Group of 20 major economies has agreed on debt relief for low-income countries to support their fight against the coronavirus.
The G20 financial chiefs held a video conference, starting at around 11 a.m. Wednesday, UTC.
After the talks, they issued a statement that says, "Our urgent collective priority is to overcome the COVID-19 pandemic and its intertwined health, social and economic impacts." It also says, "We commit to use all available policy tools to support the global economy."
The participants agreed to suspend debt payments owed by low-income countries with insufficient medical systems until the end of this year.
The G20 is also calling on the private sector to take similar steps.
The group endorsed an action plan covering a wide range of areas, including health care, economy and finance.
Source: NHK World