A global campaign movement is pushing for the debt relief for Africa nations and other poor nations due to the COVID 19 pandemic be extended to cover all of 2021.
The movement called ONE says debt relief is one of the fastest, most effective means of freeing up cash in developing country budgets.
It says that the recent G20 agreement to suspend debt repayments for the poorest countries for the rest of 2020 will free up some badly needed cash. But it is not enough.
In their campaign dubbed Ask G20 to suspend debt to fight coronavirus, ONE says: The current deal only covers bilateral debt (loans from other governments), which makes up about half of total debt service for these countries. Debt to multilateral institutions and private debt,…
Read the full article at: https://www.busiweek.com/one-ups-campaign-for-total-debt-relief-for-poor-countries/
