G-20 May Now Look Beyond Initial Debt Relief to Poor Nations

The Group of 20 leading economies this weekend may have to consider expanding help for the world’s poorest countries, three months after agreeing to provide temporary debt relief, as the coronavirus pandemic continues to ravage nations, Bloomberg News reported. Central bankers and finance ministers from the G-20 will hold a virtual meeting on Saturday to discuss and coordinate phased efforts to spur a global economic recovery. Looking beyond just debt relief efforts would be part of that. The Covid-19 pandemic is now spreading faster in the Americas and Africa compared to the previous meeting in April when the bulk of infections were in Asia and Europe. The rate of infections is increasing in many countries, with debt costs crowding out health and social expenses. Read more