Tag: Nations

Rich nations tighten firehose of aid as virus outlasts early efforts

October 5, 2020
| No Comments
| business

By Howard Schneider, William Schomberg and Michael Nienaber

WASHINGTON/LONDON/BERLIN (Reuters) – If Round One of the coronavirus relief effort was the economic equivalent of “shock and awe,” new plans being developed by the world’s biggest economies for more assistance to businesses and consumers are taking a narrower and more tactical approach.

Governments around the world went in big, hard and fast in their initial efforts to blunt the economic hit from the global pandemic, drumming up roughly $10 trillion in spending plans through June, according to International Monetary Fund estimates. Central banks levered that up further with rate cuts, bond purchases and a raft of other credit programs.

But with President Donald Trump in quarantine after testing positive for COVID-19 and a resurgence in cases in Europe and the United States, there is an acknowledgment that the recovery is far from complete. Government and central bank officials are now devising

… Read More

Read More »

Posted in %1$s Tagged %1$s

G7 ministers back extension of debt freeze for poorest nations, urge reforms

September 27, 2020
| No Comments
| business

By Andrea Shalal, Tetsushi Kajimoto and Leigh Thomas

WASHINGTON/TOKYO/PARIS (Reuters) – G7 finance ministers on Friday backed an extension of a G20 temporary freeze in debt payments and recognized the need for broad debt relief in the future, while taking aim at G20 member China over a lack of transparency in its lending.

The G20 Debt Service Suspension Initiative (DSSI), approved in April, is aimed at helping developing countries get through the fallout from the coronavirus pandemic. So far, it has helped 43 countries defer $5 billion in official debt service payments.

However, in a joint statement, the G7 ministers said they “strongly regret” moves by some countries to skip full participation in the DSSI by classifying their state-owned institutions as commercial lenders.

While the statement did not mention China specifically, G7 officials said the message was clearly aimed at Beijing, which has failed to include loans by state-owned China

… Read More

Read More »

Posted in %1$s Tagged %1$s

G7 finance heads seen backing extension of debt freeze for poorest nations – sources

September 26, 2020
| No Comments
| finance

By Andrea Shalal and Leika Kihara

WASHINGTON/TOKYO, Sept 25 (Reuters) – G7 finance ministers are expected on Friday to signal their support for extending a debt relief programme aimed at helping the poorest countries weather the coronavirus pandemic, three sources briefed on the issue said.

The ministers of the Group of Seven advanced economies are set to meet by video conference on Friday to discuss global economic developments and the continued impact of coronavirus, which has infected nearly 32 million people worldwide.

Although the International Monetary Fund has argued in favour of extending the debt relief programme’s year-end deadline by a year through 2021, the G7 ministers are likely to back an initial extension of six months, the sources said.

“There is backing for a six-month extension, and there will be discussion of the broader issue of debt restructuring,” one of the sources said.

The G7 will debate the

… Read More

Read More »

Posted in %1$s Tagged %1$s

Hairstyle 2020 | All Rights Reserved.

Hairstyle theme by Flythemes