PARIS, Oct 9 (Reuters) – A consensus is emerging among G20 nations to extend a debt-payment freeze next week for poor countries for an additional six months, a French finance ministry source said on Friday.
Members of the Group of 20 economic powers and the Paris Club of creditor nations agreed in April to suspend until the end of the year debt payments owed to them by poor countries to free up resources for tackling the coronavirus outbreak.
G20 finance ministers are due to take a decision on what to do after the end of the year when they hold an online meeting next Wednesday, the source said.
“The number we think we will land on is six months, which seems reasonable as that will give time to evaluate the impact of the crisis on debt sustainability,” the source said.
After six months, the debt servicing freeze could be extended
ACCRA, Oct 6 (Reuters) – Ghana has suspended the $500 million listing of its gold royalty fund Agyapa Royalties in London following concerns raised by the main opposition party about transparency and governance, a finance ministry letter reviewed by Reuters showed.
In an Oct. 1 letter to the special prosecutor, deputy finance ministry Charles Abu Boahen said the government would delay the Initial Public Offering (IPO), following criticism by the opposition National Democratic Congress opposition party.
“It would be detrimental to proceed without receiving approvals the green light from your office,” Boahen wrote.
A finance ministry spokesman declined to comment immediately.
Agyapa Royalties, a government-backed fund that holds equity interests including mining royalties in the state’s gold assets, had hired banks to list on the London Stock Exchange, sources said on Sept. 21.
Ghana wants to take advantage of the precious metal’s strong performance this year to raise $400 million-$500
TOKYO (Reuters) – Japan’s Ministry of Finance is set to seek about $242 billion in debt servicing for the fiscal year from next April 1, up for a third straight year on a budget-request basis, a ministry draft reviewed by Reuters showed.
The budget request for debt redemption and interest payments would total 25.4934 trillion yen ($242.03 billion), marking a 9.2% increase from the current fiscal year ending in March, according to the draft, which was confirmed by several sources with direct knowledge of the matter.
It would exceed 25 trillion yen on initial budget basis for the first time in five years, underscoring a struggle for the heavily indebted government to finance snowballing debt that tops twice the size of Japan’s $5 trillion economy.
In compiling its budget request, the ministry estimated interest rates at 1.2% thanks to the Bank of Japan’s ultra-low rate policy. Still, massive outstanding debt
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