• About us
  • Donate
  • WADR
  • Contact us
  • Live Stream
Monday, July 4, 2022
Loud Silence News
Advertisement
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
No Result
View All Result
Loud Silence News
No Result
View All Result
Home US News Human Interest Stories

Coronavirus: G20 delays poor nations’ debt payments

Loud Silence Staff by Loud Silence Staff
April 15, 2020
in Human Interest Stories
0
Coronavirus: G20 delays poor nations’ debt payments
1
SHARES
6
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

[ad_1]

A worker in Kitui, Kenya

Image copyright
AFP

Image caption

Coronavirus has hit developing economies hard

Nations belonging to the G20 group of leading economies have agreed to suspend debt payments owed to them by some of the world’s poorest countries.

The agreement covers money that is due to be paid to G20 governments up to the end of 2020.

The aim is to help countries deal with the health and economic impacts of the coronavirus pandemic.

The Jubilee Debt Campaign group has described the move as a first step, but called for much more.

The UK-based charity estimates that the delay will cover $12bn (£9.6bn) of payments.

But it is only a delay and the campaign group understands that the payments will instead have to be made between 2022 and 2024, along with interest accrued in the meantime.

In all, 77 countries are due to benefit from the agreement.

The plan was provisionally agreed on Tuesday by the G7 leading developed countries, but it was conditional on support from the wider G20.

Some countries, notably China and Saudi Arabia, which are in the G20 but not the G7, are significant lenders to developing countries. The G7 wanted a contribution to the debt payment suspension from those nations.

Cancellation call

The move reflects the widely shared view that low-income countries face an especially severe challenge in coping with both the health and economic consequences of the pandemic.

The G20 has also called for private lenders to take similar steps for debts owed to them by the poorest countries. However, the G20 suggested this could be done on a voluntary basis.

The Jubilee Debt Campaign has said that is not enough. It wants to see legal changes to ensure that private creditors cannot use the courts to sue developing countries if they miss payments.

That is particularly relevant to the UK and New York, because most developing-country debt agreements use those jurisdictions’ laws.

The campaigners also say that the payments should be cancelled outright rather than merely deferred.

That was in effect done earlier this week for a more limited amount of debt payments owed to the International Monetary Fund. It decided to use its own resources to make the payments due in the next six months from 25 low-income countries, mainly in Africa.

[ad_2]

This content first appear on bbcnews

You might also like

Coronavirus: How India’s lockdown sparked a debate over maids

Coronavirus: Can live-streaming save China’s economy?

Coronavirus: How long does it take to recover?

Previous Post

Black women slammed hardest by coronavirus joblessness, new survey finds

Next Post

22 Persons Arrested For Attempting To Illegally Cross To Togo | Social

Loud Silence Staff

Loud Silence Staff

Related Posts

Coronavirus: How India’s lockdown sparked a debate over maids
Human Interest Stories

Coronavirus: How India’s lockdown sparked a debate over maids

by Loud Silence Staff
May 6, 2020
Coronavirus: Can live-streaming save China’s economy?
Human Interest Stories

Coronavirus: Can live-streaming save China’s economy?

by Loud Silence Staff
May 6, 2020
Coronavirus: How long does it take to recover?
Human Interest Stories

Coronavirus: How long does it take to recover?

by Loud Silence Staff
May 5, 2020
Coronavirus: White House plans to disband virus task force
Human Interest Stories

Coronavirus: White House plans to disband virus task force

by Loud Silence Staff
May 5, 2020
IS militants step up attacks on Iraqi security forces
Human Interest Stories

IS militants step up attacks on Iraqi security forces

by Loud Silence Staff
May 5, 2020
Next Post
22 Persons Arrested For Attempting To Illegally Cross To Togo | Social

22 Persons Arrested For Attempting To Illegally Cross To Togo | Social

Recommended

States lifting stay-at-home orders, reopening businesses

April 30, 2020

Amidu’s Office Should Be Converted Into Isolation Centre For COVID-19 Patients – Chief Biney | Politics

May 5, 2020

Categories

  • African Business
  • African Education
  • African Health
  • African News
  • African Politics
  • African ShowBiz
  • Education
  • Ghana Business
  • Ghana News
  • Ghana ShowBiz
  • Ghana Sports
  • Human Interest Stories
  • News
  • Opinion
  • People
  • ShowBiz
  • Social Trends
  • US Business
  • US Education
  • US Health
  • US News
  • US Politics
  • US Showbiz
  • WADR
  • World Business
  • World News
  • World Politics
  • World Showbiz
  • World Sports

Don't miss it

How Kindhearted Mrs. Lordina Mahama is Touching and Changing Lives.
Ghana News

How Kindhearted Mrs. Lordina Mahama is Touching and Changing Lives.

June 21, 2022
Planting For Food and Jobs Has Been A Success- Agric Minister
Ghana News

Planting For Food and Jobs Has Been A Success- Agric Minister

June 21, 2022
Akufo Addo Blame Covid and Russia-Ukraine War for Poverty In Africa
Ghana News

Akufo Addo Blame Covid and Russia-Ukraine War for Poverty In Africa

June 21, 2022
Aggrey Memorial School Security Guard reportedly Raped A Female Student After Prep Hours
Education

Aggrey Memorial School Security Guard reportedly Raped A Female Student After Prep Hours

June 21, 2022
Aggrey Memorial School Security Guard reportedly Raped A Female Final Year Student After Prep Hours
Education

Aggrey Memorial School Security Guard reportedly Raped A Female Final Year Student After Prep Hours

June 21, 2022
Nana Addo is doing great as President, don’t be ungrateful – Evangelist Diana Asamoah to Ghanaians
ShowBiz

Nana Addo is doing great as President, don’t be ungrateful – Evangelist Diana Asamoah to Ghanaians

June 21, 2022

About Us

LOGO

Loud Silence Radio & TV Network and is a multi media production company focusing on Ghanaian and African news.

Contact

  • Alexandria, Virginia, USA
  • +1 212-602-9641
  • loudsilenceradio@gmail.com
Facebook Twitter Youtube Linkedin

Download App

google play store

© 2021 Loud Silence Media. All rights reserved.

  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
Menu
  • About us
  • Contact us
  • Donate
  • Live Stream
  • Privacy Policy
  • Terms of Use
No Result
View All Result
  • Ghana News
    • General News
    • Business
    • Education
    • Opinion
  • US News
    • Business
    • Health
    • Human Interest Stories
    • Politics
    • Education
  • Africa News
    • Business
    • Education
    • Health
    • Politics
  • ShowBiz
    • Ghana ShowBiz
    • US Showbiz
    • African ShowBiz
    • World Showbiz
  • Editorials
    • People
  • World News
    • Politics
    • Business
    • Education
    • Health
  • Sports
    • Ghana Sports
    • World Sports
  • WADR
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.