RIYADH - G20 finance ministers and central bankers are set to hold talks on Saturday aimed at spurring global economic recovery from a coronavirus-triggered recession amid growing calls to widen debt relief for crisis-hit poor countries.
Kristalina Georgieva, the International Monetary Fund's managing director, has warned that despite some signs of recovery, the global economy faces sustained headwinds, including the possibility of a second wave of Covid-19. 'IMPENDING CATASTROPHE' In April, G20 nations announced a one-year debt standstill for the world's poorest nations.
But the 73 countries are still required to pay up to US$33.7 billion in debt repayments through the end of the year, the charities said in a research report released on Thursday .
Source: News Formal (newsformal.com)
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