G20 Expected To Call On Private Lenders To Suspend Debt Repayments Amid Pandemic; China Extends $2.1B In Debt Relief To Poor Nations; Faith Leaders Provide Recommendations To G20
Devex: Faith leaders bring recommendations to G-20
“An international group of faith leaders and advocates this week delivered a series of recommendations to Saudi Arabia, which has the presidency of the G-20, ahead of the group’s high-level summit with world leaders beginning Nov. 20. The G20 Interfaith Forum brings together faith leaders and religiously linked institutions from around the world to provide recommendations to heads of state on a host of development topics. Initially formed to address global economic issues, the G-20 has been pressed to address broader international challenges such as climate change and gender equality…” (Welsh, 11/19).
The Guardian: ‘People are suffering’: G20 to call on private lenders to suspend debt repayments
“…Governments across the developing world are struggling to adapt to widespread financial losses due to Covid-19, compounded by debt repayment to private creditors. The grouping of the largest economies, the G20, meets in Saudi Arabia this weekend, and will urge private credit institutions to suspend debt repayments, ideally to allow more spending on combating the pandemic…” (Michaelson, 11/20).
Reuters: China says has given $2.1 billion of debt relief to poor countries
“China has extended debt relief to developing countries worth a combined $2.1 billion under the G20 framework, the highest among the group’s members in terms of the amount deferred, the country’s Finance Minister Liu Kun said on Friday…” (11/20).