(Ecofin Agency) – The International Monetary Fund announced in a July 20 statement it has agreed to write off up to$7.6 million of Burundis debt. The move aims to help the country face the coronavirus crisis and the socio-economic challenges that came with it. It is part of the Catastrophe Containment and Relief (CCR) Trust,…
Mohammed al-Jadaan, Saudi Arabia’s minister of finance, wears a protective mask as he attends a virtual meeting of G-20 finance ministers and central bank governors July 18, 2020. Advocates say they are disappointed the G-20 meeting did not yield as much help for desperately poor nations struggling during the COVID-19 pandemic as hoped for, and…
Adelaide Tuesday July 21, 2020 Your views: on 5G, Crows and Hong Kong Eight Australian magazines closed permanently Charges laid over fatal Dreamworld ride Diary of a Bookseller: Writers, readers and lovers Hackney A lack of transparency around how Centrelinks Family Tax Benefit is balanced has seen some payments stalled, leaving welfare recipients stressed and…
July 20, 2020 The IMF Executive Board approved debt relief under the Catastrophe Containment and Relief Trust to provide US$ 7.63 million (SDR 5.48 million) over the next 3 months, and potentially up to US$ 24.97 million (SDR 17.96 million) over the next 21 months. IMF debt relief will help free up resources for public…
Image caption “Buy now, pay later” allows customers to delay payment or split it into smaller instalments Buy now, pay later service Klarna has seen a boom in business during Britain’s lockdown. That includes a 105% increase in the number of running shoes purchased using its services, a 60% hike in beauty product sales and…
The Group of 20 leading economies will take a decision on extending the current suspension of debt repayments by the poorest countries closer to the end of the year, putting off assurances of additional relief as the global pandemic ravages nations around the world. All member countries have started implementing the Debt Service Suspension Initiative…
(MENAFN – Caribbean News Global)Peggy Walters, Principal & Founder, Third Voice Communications By Peggy Walters The forthcoming G20 ministers of finance meeting can set the stage to relieve and restructure the increasing debt faced by Caribbean countries. The region welcomes 30 million tourists annually, sustaining 14 percent of the regions jobs and contributing over 15…
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 and coordinate…
(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…
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),…