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

offsite link Trump Assembles a War Cabinet Sat Nov 16, 2024 10:29 | Marko Marjanovi?

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Human Rights in Ireland
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Lockdown Skeptics

The Daily Sceptic

offsite link British Gas Boss Warns Miliband Against ?Outrageous? Energy Bill Divide Sun Jul 20, 2025 15:00 | Richard Eldred
Slapping higher green taxes on gas-boiler households while heat-pump users get off is an "abomination" that punishes the poor and warps the market, warns British Gas boss Chris O'Shea.
The post British Gas Boss Warns Miliband Against ?Outrageous? Energy Bill Divide appeared first on The Daily Sceptic.

offsite link Lithium: the New Environmental Crisis Sun Jul 20, 2025 13:00 | Sallust
Electric vehicles may seem like the green solution, but Sallust reveals how their thirst for lithium is turning Chile's salt flats into a dusty mess.
The post Lithium: the New Environmental Crisis appeared first on The Daily Sceptic.

offsite link Antisemitism Rife in UK Schools Sun Jul 20, 2025 11:00 | Richard Eldred
Swastikas on walls, chants of "f--- the Jews" ? antisemitism is now so rife in UK schools that over half of Jewish teachers say they've faced abuse.
The post Antisemitism Rife in UK Schools appeared first on The Daily Sceptic.

offsite link In Praise of Votes for 16 Year-Olds Sun Jul 20, 2025 09:00 | Joanna Gray
Joanna Gray thinks votes for 16 year-olds is a great idea. After all, Gen X, Millennials and Boomers have messed everything up. And if you speak to current teenagers you'll quickly realise they see through the crap.
The post In Praise of Votes for 16 Year-Olds appeared first on The Daily Sceptic.

offsite link Trump?s Ultimatum Leaves the International Energy Agency Facing Oblivion if it Won?t Abandon Net Zer... Sun Jul 20, 2025 07:00 | Tilak Doshi
The US has declared that it will withdraw from the International Energy Agency if it fails to reform. The IEA faces oblivion if it won't abandon its Net Zero fantasies, says Dr Tilak Doshi.
The post Trump’s Ultimatum Leaves the International Energy Agency Facing Oblivion if it Won’t Abandon Net Zero Fantasies appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Will intergovernmental institutions withstand the end of the "American Empire"?,... Sat Apr 05, 2025 07:15 | en

offsite link Voltaire, International Newsletter N?127 Sat Apr 05, 2025 06:38 | en

offsite link Disintegration of Western democracy begins in France Sat Apr 05, 2025 06:00 | en

offsite link Voltaire, International Newsletter N?126 Fri Mar 28, 2025 11:39 | en

offsite link The International Conference on Combating Anti-Semitism by Amichai Chikli and Na... Fri Mar 28, 2025 11:31 | en

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IMF Calls for New Global Debt Policies to Confront COVID Financial Crisis

category international | politics / elections | press release author Friday October 02, 2020 19:16author by Zachary Conti - Jubilee USA Report this post to the editors

IMF head Kristalina Georgieva warned that developing countries could face a second wave of economic crises just as they are recovering from the coronavirus pandemic. "... There is a need to reform the international debt 'architecture' ... to provide speedy and sufficiently deep debt relief to countries that need it, benefitting not only these countries but the system as a whole," wrote Georgieva and other top IMF officials in a Fund blog published Thursday.

IMF head Kristalina Georgieva warned that developing countries could face a second wave of economic crises just as they are recovering from the coronavirus pandemic. "... There is a need to reform the international debt 'architecture' ... to provide speedy and sufficiently deep debt relief to countries that need it, benefitting not only these countries but the system as a whole," wrote Georgieva and other top IMF officials in a Fund blog published Thursday.

"The IMF is declaring that global processes and policies must be reformed to address skyrocketing debt levels and countries facing debt crises," shared Eric LeCompte, the Executive Director of the religious development group Jubilee USA and a UN finance expert. "If we had better debt processes in place before the coronavirus struck, we may not have experienced an economic crisis of this magnitude."

In addition to international debt policy and process reforms, the Georgieva blog asserts the G20 should continue suspending debt payments for poor countries.

In April, the G20 agreed to the Debt Service Suspension Initiative, a process for the 73 poorest countries to stop paying debts through 2020. The initiative allowed 43 of the poorest countries to free $5.3 billion for health and social spending to respond to the pandemic. Without G20 action, the initiative expires at the end of the year.

"Unless we move forward additional aid and debt relief, too many countries could see lost decades of development," said LeCompte.

According to the IMF, about half of low-income countries faced severely high debt levels or financial crisis prior to the onslaught of COVID-19.

"Debt relief and aid needs to be increased and expanded to include more developing countries struggling to confront the health and economic impacts of the pandemic," noted LeCompte. "As we reform debt processes and policies to meet this current crisis, we must also strengthen processes to prepare us to combat future financial crises."

Read Georgieva's IMF blog here.


https://blogs.imf.org/2020/10/01/reform-of-the-international-debt-architecture-is-urgently-needed/
https://www.jubileeusa.org/pr_imf_debt_policies_covid_crisis

Related Link: https://www.jubileeusa.org/pr_imf_debt_policies_covid_crisis
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