IMF managing director Kristalina Georgieva last week said African states alone faced a financing gap of US$345 billion through 2023 to deal with the pandemic and its economic impact.
Under the new framework, creditor countries will negotiate together with a debtor country, which will be expected to seek the same treatment terms from private sector creditors. "From now on all interested parties must ensure to implement the common framework. Debt transparency is extremely important," Japanese finance minister Taro Aso told reporters after a G-20 conference call, describing the agreement as"historical".The new framework also goes further by requiring all public creditors to participate, after China was criticised by G-20 partners for not including debt owed to its state-owned banks.
Tim Jones, head of Policy at Jubilee Debt Campaign, said in a statement that the G-20 announcement allowed for, but discouraged outright debt cancellation, and did not create a mechanism to compel private sector participation.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Risk from COVID-19 variants remains after first Pfizer COVID-19 vaccine, UK study findsLONDON :A single dose of Pfizer's coronavirus vaccine may not generate a sufficient immune response to protect against dominant new variants, ... 所以那些還沒有完成接種第二針疫苗的國家是不能對印度，巴基斯坦，尼泊爾，斯里蘭卡開放的。 3rd and 4th doses coming your way. Then 5th and 6th......... WHILE VIRYS MUTATES
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
COVID-19: Gemma Steakhouse suspended for 20 days after holding Halloween dinner for 75 peopleGemma Steakhouse at National Gallery has been suspended for 20 days until 22 December over potential breaches of safe management measures.
Source: YahooSG - 🏆 3. / 71 Read more »
Germany braces for extension of COVID-19 lockdown until Dec 20Germany will have to extend its measures to contain the COVID-19 pandemic until Dec. 20, according to senior politicians and a draft proposal ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Germany braces for extension of Covid-19 lockdown until Dec 20Germany imposed a month-long “lockdown-lite” from Nov 2 but infection numbers have not declined. . Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Germany extends Covid-19 restrictions until Dec 20 as deaths reach recordBERLIN (REUTERS) - Chancellor Angela Merkel agreed with leaders of Germany's 16 federal states to extend and tighten measures against the coronavirus until at least Dec 20 and they are likely to extend them into January, she said on Wednesday (Nov 25).. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
G-20 leaders pledge to fund fair distribution of Covid-19 vaccinesThey pledge to strengthen their efforts to help countries deal with the crisis.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »