Israel told US it is modeling Gaza attack on Hiroshima and Nagasaki 22:35 Nov 05 0 comments UK Government manipulation of the BBC and social media over Covid 21:40 Sep 19 0 comments Good Riddance to Biden - Bye Bye Bidens 23:13 Apr 18 0 comments Exposed: Ireland’s Leading Far-right Politicians Unmasked… 20:58 Dec 07 0 comments The political power of Facebook 21:40 Oct 17 0 comments more >>Blog Feeds
Public InquiryInterested in maladministration. Estd. 2005RTEs Sarah McInerney ? Fianna Fail supporter? Anthony Joe Duffy is dishonest and untrustworthy Anthony Robert Watt complaint: Time for decision by SIPO Anthony RTE in breach of its own editorial principles Anthony Waiting for SIPO Anthony
Human Rights in IrelandA Blog About Human RightsUN human rights chief calls for priority action ahead of climate summit Sat Oct 30, 2021 17:18 | Human Rights 5 Year Anniversary Of Kem Ley?s Death Sun Jul 11, 2021 12:34 | Human Rights Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights Right to Water Mon Aug 03, 2020 19:13 | Human Rights Human Rights Fri Mar 20, 2020 16:33 | Human Rights
Lockdown Skeptics
News Round-Up Thu Apr 18, 2024 01:07 | Richard Eldred
Government-Sponsored Agency the Global Disinformation Index is Censoring Anything Deemed ?Harmful? I... Wed Apr 17, 2024 19:00 | Will Jones
They Were Catastrophising the Climate in the 17th Century Wed Apr 17, 2024 17:00 | Guy de la Bédoyère
Why Are Psychologists Sharing Memes Mocking Their Patients on Social Media? Wed Apr 17, 2024 15:00 | Dr Kirsty Miller
Can You Game Google Scholar? Wed Apr 17, 2024 13:00 | Noah Carl
Voltaire NetworkVoltaire, international editionThe cost of war, by Manlio Dinucci Wed Apr 17, 2024 04:12 | en Angela Merkel and François Hollande's crime against peace, by Thierry Meyssan Tue Apr 16, 2024 06:58 | en Iranian response to attack on its consulate in Damascus could lead to wider warf... Fri Apr 12, 2024 13:36 | en Is the possibility of a World War real?, by Serge Marchand , Thierry Meyssan Tue Apr 09, 2024 08:06 | en Netanyahu's Masada syndrome and the UN report by Francesca Albanese, by Alfredo ... Sun Apr 07, 2024 07:53 | en |
IMF Calls for New Global Debt Policies to Confront COVID Financial Crisis
international |
politics / elections |
press release
Friday October 02, 2020 19:16 by Zachary Conti - Jubilee USA
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 |