G-20 May Now Look Beyond Initial Debt Relief for Poorest Nations – Yahoo Finance Australia

(Bloomberg) — The Group of 20 leading economies this weekend may have to consider expanding help for the worlds poorest countries, three months after agreeing to provide temporary debt relief, as the coronavirus pandemic continues to ravage nations. Central bankers and finance ministers from the G-20 will hold a virtual meeting on Saturday to discuss…

An Easy Way to Provide Debt Relief for the World’s Poorest Countries – The Globalist

In certain circumstances, common morality says that creditors should not force their borrowers to pay interest and principal fully and on time. The COVID 19 pandemic and the global economic collapse it has caused are just such circumstances, for both persons and governments. For the poorest countries harmed by the crisis (e.g., Guinea, Haiti, Nepal),…

How women can lower financial stress, take control of credit card debt during COVID-19 – NBC News

This article originally appeared on Invest in You: Ready. Set. Grow., a CNBC multiplatform financial wellness and education initiative, in partnership with Acorns. Despite the economic turmoil and mass unemployment resulting from the coronavirus pandemic, consumer revolving debt decreased by $24 billion in May, according to recent data from the Fed. It is the third…

Banks ask OJK to extend debt relief program amid mounting COVID-19 cases – The Jakarta Post – Jakarta Post

Banks have urged the Financial Services Authority (OJK) to extend its debt relief program as the COVID-19 pandemic has yet to show signs of slowing down. Association of State-Owned Banks (Himbara) chairman Sunarso said on Monday the banks had asked the authority to extend its loan restructuring relaxation program by at least another year. The…

Sunak says UK companies should not expect help with their debts – Financial Times

Chancellor Rishi Sunak on Wednesday poured cold water on the idea that the government should provide bailouts to companies that risk bankruptcy because of mounting debts accumulated during the coronavirus crisis. Giving evidence to the House of Commons Treasury select committee, Mr Sunak said he was not comfortable with the prospect of helping companies with…

Global Citizen Joins Business and Labour Groups to Urge G20 Debt Relief to Help the Poorest Countries Tackle COVID-19 – Global Citizen

Laboratory technician Irene Ooko attends to a patient seeking a test for the new coronavirus that causes COVID-19, at the Pathologists Lancet Kenya laboratory in Nairobi, Kenya on April 5, 2020.Brian Inganga/AP Why Global Citizens Should Care The COVID-19 pandemic has sparked significant economic downturns globally. As countries struggle to cope with the pandemic, many…

How women can lower financial stress and take control of credit card debt during coronavirus – CNBC

Getty Images Despite the economic turmoil and mass unemployment resulting from the coronavirus pandemic, consumer revolving debt decreased by $24 billion in May, according to recent data from the Fed. It is the third straight month of decline in consumer debt. Covid-19 has devastated many Americans’ finances, with lost jobs and wages, but there has…