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42 countries ask G20 to take steps to freeze debt service payments


Atta Ur Rehman KhanWeb Editor & Columnist

19th Jul, 2020. 07:59 pm
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42 countries ask G20 to take steps to freeze debt service payments

Saudi Finance Minister Muhammad al-Jadaan said that 42 countries have asked the G20 to take steps to freeze debt service payments.

The G20 will consider extending the debt freeze initiative beyond 2020, Saudi Finance Minister

The IMF has approved 77 requests for USD 80 billion in aid, Group of Twenty.

Coronavirus epidemic has profound negative effects on daily life in all parts of the world, Muhammad Al-Jadaan

He also said that it has had a direct impact on health, the economy, jobs and logistics.

Al-Jadaan, Saudi Arabia’s finance minister, explained that the corona epidemic has had a profound negative impact on daily life in all parts of the world, with a direct impact on health, the economy, jobs and supply chain.

Finance Minister Al-Jadaan also said that the Saudi government has been the first to review the amount allocated in the budget in the health sector and to help the most needy sectors.

Amid growing demands for debt relief from poor countries, G20 finance ministers and central banks have stressed the need to step up efforts to stimulate the global economy in the wake of the Coronavirus recession.

The Saudi-hosted virtual conference comes at a time when the Corona epidemic is hurting the global economy.

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