International Monetary Fund Managing Director Kristalina Georgieva and World Bank David Malpass on Wednesday praised a new G20 debt relief ...
International Monetary Fund Managing Director Kristalina Georgieva and World Bank David Malpass on Wednesday praised a new G20 debt relief agreement that suspends bilateral debt servbice payments by poor countries.
FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during a conference hosted by the Vatican on economic solidarity, at the Vatican, February 5, 2020. REUTERS/Remo CasilliWASHINGTON: International Monetary Fund Managing Director Kristalina Georgieva and World Bank David Malpass on Wednesday praised a new G20 debt relief agreement that suspends bilateral debt servbice payments by poor countries.
A source familiar with a G20 meeting of finance ministers and central bank governors said the debt service suspension would run from May 1 through Dec. 31, with an option for renewal in 2021.Georgieva, in a statement to a meeting of G20 leaders also said the IMF was"urgently" seeking some US$18 billion in new resources for the Fund's Poverty Reduction and Growth Trust for poor countries and was exploring how the use of special drawing rights could aid this effort.
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