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offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

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The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

offsite link The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

offsite link What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

offsite link Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
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offsite link The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
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Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

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Voltaire Network
Voltaire, international edition

offsite link Voltaire, International Newsletter N?113 Fri Dec 20, 2024 10:42 | en

offsite link Pentagon could create a second Kurdish state Fri Dec 20, 2024 10:31 | en

offsite link How Washington and Ankara Changed the Regime in Damascus , by Thierry Meyssan Tue Dec 17, 2024 06:58 | en

offsite link Statement by President Bashar al-Assad on the Circumstances Leading to his Depar... Mon Dec 16, 2024 13:26 | en

offsite link Voltaire, International Newsletter N?112 Fri Dec 13, 2024 15:34 | en

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G7 Finance Ministers Support Debt Relief for Poor Countries Combating COVID-19 Crisis

category international | economics and finance | press release author Friday September 25, 2020 21:38author by Zach Conti - Jubilee USA Report this post to the editors

The G7 supports a process for debt cancellation for vulnerable countries, they announced this morning after Treasury convened a special Finance Ministers meeting.

The G7 supports a process for debt cancellation for vulnerable countries, they announced this morning after Treasury convened a special Finance Ministers meeting. In a G7 statement, the ministers also encouraged an extension of the G20 Debt Service Suspension Initiative (DSSI) into next year for the world’s 73 poorest countries. "The G7 recognizes that some countries will need debt cancellation and now is calling for a process to cut debts," stated Eric LeCompte, the Executive Director of Jubilee USA Network and a United Nations finance expert. "With the poorest countries struggling with the economic and health impacts of the coronavirus, countries desperately need more aid and debt relief." In April, the G20 agreed to a process for the 73 poorest countries to stop paying debts through 2020. So far, the initiative has allowed 43 of the poorest countries to free $5.3 billion for health and social spending to respond to the pandemic. The G7 statement encouraged private creditors and banks to "voluntarily" participate in the debt payment suspension and seemed to criticize China for not fully participating in the initiative. "Reading between the lines, the G7's statement is hard on China and weak on private creditor participation," said LeCompte. "All Chinese government entities should stop taking debt payments from poor countries and stronger action must be taken to ensure the private sector joins the coronavirus debt relief initiatives." Earlier this month, several Finance Ministers joined the World Bank and IMF chiefs in calling to extend the DSSI into 2021 and arguing that private creditors should stop collecting poor country debts. "It's time to extend debt relief initiatives to all developing countries, including Middle-Income Countries, struggling with the coronavirus pandemic," shared LeCompte.  In October and November, G20, IMF and World Bank meetings will discuss the future of coronavirus debt suspension and relief efforts. Read the G7 Statement here. Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

Related Link: https://home.treasury.gov/news/press-releases/sm1135
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