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G7 Calls for More Debt Relief to Confront COVID-19 Crisis
international |
economics and finance |
press release
Monday August 17, 2020 20:33 by Zachary Conti, zach@jubileeusa.org - Jubilee USA
Treasury Secretary Steven Mnuchin convened G7 Finance Ministers, the International Monetary Fund and the World Bank to coordinate responses to the COVID-19 pandemic. In April, the G7 supported the G20 to implement a plan to suspend debt payments for the 73 poorest countries in the world through 2020. "The G7 called on the G20 to consider suspending debt payments beyond 2020 and into next year for the world's poorest countries," stated Jubilee USA Executive Director and United Nations debt expert, Eric LeCompte. "Developing countries need more debt relief to fight the serious health and economic impacts of the coronavirus." |