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- IMF top deputy optimistic G-20 debt relief extended next week
IMF top deputy optimistic G-20 debt relief extended next week
Bloomberg reports that the No. 2 official of the International Monetary Fund is optimistic that the Group of 20 largest economies next week will agree to extend debt relief to low-income nations through the end of this year.
According to the World Bank, the G-20’s Debt Service Suspension Initiative, which took effect last May, has delivered$5 billion in relief for more than 40 countries. The G-20 last October extended the program, originally set to expire in December 2020, through June, and agreed to consider a further six-month extension later.
G-20 finance ministers are set to meet virtually on April 7 for the second time this year on the sidelines of the IMF and World Bank spring meetings.
“It’s been our recommendation to extend this to the end of the year,” IMF First Deputy Managing Director Geoffrey Okamoto said. “I’m optimistic that the G-20 will reach a decision to extend it, though the exact terms of the extension are still under discussion.”
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