{"id":249983,"date":"2020-03-26T03:33:26","date_gmt":"2020-03-26T07:33:26","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=249983"},"modified":"2025-01-30T14:05:43","modified_gmt":"2025-01-30T19:05:43","slug":"world-bank-imf-seek-debt-relief-for-poor-countries","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2020\/03\/26\/world-bank-imf-seek-debt-relief-for-poor-countries\/","title":{"rendered":"World Bank, IMF seek debt relief for poor countries"},"content":{"rendered":"
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IDA countries, which are currently 76 in number, had gross national income per capita under USD1,175 in 2020, according to the association’s website.<\/p>\n
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(Pexels photo)<\/figcaption><\/figure>\n

ISTANBUL<\/strong>\u00a0\u2013 The World Bank Group (WBG) and the International Monetary Fund (IMF) on Wednesday urged creditors to suspend debt payments of the world\u2019s poorest countries in the wake of the coronavirus disease (Covid-19) pandemic.<\/p>\n

In a joint statement on the eve of the G20 virtual summit on Covid-19, the institutions said the global crisis will have \u201csevere economic and social consequences\u201d in International Development Association (IDA) countries.<\/p>\n

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\u201cIDA countries, [are] home to a quarter of the world\u2019s population and two-thirds of the world\u2019s population living in extreme poverty,\u201d read the statement.<\/p>\n

IDA countries, which are currently 76 in number, had gross national income per capita under USD1,175 in 2020, according to the association’s website.<\/p>\n

\u201cThis [suspension of debt payments] will help with IDA countries\u2019 immediate liquidity needs to tackle challenges posed by the coronavirus outbreak and allow time for an assessment of the crisis impact and financing needs for each country,\u201d read the statement.<\/p>\n

\u201cWe invite G20 leaders to task the WBG and the IMF to make these assessments, including identifying the countries with unsustainable debt situations, and to prepare a proposal for comprehensive action by official bilateral creditors to address both the financing and debt relief needs of IDA countries,\u201d it added.<\/p>\n

Leaders of G20 countries will hold a virtual meeting on the Covid-19 pandemic on Thursday, which will be chaired by Saudi Arabia\u2019s King Salman bin Abdulaziz Al Saud.<\/p>\n

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\u00a0(Anadolu)<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

ISTANBUL\u00a0\u2013 The World Bank Group (WBG) and the International Monetary Fund (IMF) on Wednesday urged creditors to suspend debt payments …<\/p>\n","protected":false},"author":44,"featured_media":249984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-249983","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","mauthors-anadolu","mauthors-philippine-news-agency"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/249983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=249983"}],"version-history":[{"count":2,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/249983\/revisions"}],"predecessor-version":[{"id":287050,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/249983\/revisions\/287050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/249984"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=249983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=249983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=249983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}