G20 Leaning Towards Extending Debt-payment Freeze

A consensus is emerging among G20 nations to extend a debt-payment freeze next week for poor countries for an additional six months, a French finance ministry source said on Friday, Reuters reported. Members of the Group of 20 economic powers and the Paris Club of creditor nations agreed in April to suspend until the end of the year debt payments owed to them by poor countries to free up resources for tackling the coronavirus outbreak. G20 finance ministers are due to take a decision on what to do after the end of the year when they hold an online meeting next Wednesday, the source said. “The number we think we will land on is six months, which seems reasonable as that will give time to evaluate the impact of the crisis on debt sustainability,” the source said. Read more