top
International
International
Indybay
Indybay
Santa Cruz
Santa Cruz
Indybay
Regions
Indybay Regions North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area North Coast Central Valley North Bay East Bay South Bay San Francisco Peninsula Santa Cruz IMC - Independent Media Center for the Monterey Bay Area California United States International Americas Haiti Iraq Palestine Afghanistan
Topics
Newswire
Calendar
Features
From the Open-Publishing Calendar
From the Open-Publishing Newswire
Indybay Feature
G20 Emergency Meeting Convenes on Coronavirus Health and Economic Impacts
by Kate Zeller
Thursday Mar 26th, 2020 12:23 PM
Saudi Arabia chaired an emergency virtual G20 meeting for Presidents and Prime Minsters as the coronavirus wreaks havoc on the global economy.
Washington DC - Saudi Arabia chaired an emergency virtual G20 meeting for Presidents and Prime Minsters as the coronavirus wreaks havoc on the global economy. The leaders pledged to pump $5 trillion into the economy, cooperate on health efforts and address debt risks facing poor countries.

"World leaders are incredibly concerned about a crisis that is taking lives and could destroy our economy," shared Eric LeCompte, a United Nations finance expert and Executive Director of the religious development group Jubilee USA. "It's unfortunate that G20 leaders did not commit to the IMF and World Bank calls to suspend debt payments for the world's poorest countries."

On Wednesday, the Fund and the World Bank urged G20 and wealthy countries to stop collecting debt from 76 developing countries. More than 65% of those who live in extreme poverty call these 76 countries home.

"We need the G20 to suspend debt payments. We need to see the IMF and World Bank also use debt payment moratoriums," said LeCompte. "A range of creditors need to provide debt relief for both developing and more developed countries. We need to improve our debt restructuring processes very quickly."

Add Your Comments
We are 100% volunteer and depend on your participation to sustain our efforts!

Donate

donate now

$ 162.00 donated
in the past month

Get Involved

If you'd like to help with maintaining or developing the website, contact us.

Publish

Publish your stories and upcoming events on Indybay.

IMC Network