New Events

International

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link British COVID Hero Grandmother Rips Into... Sun Oct 25, 2020 08:20 | Hayley Dixon

offsite link Isolation Has Caused 13,200 Excess Demen... Sun Oct 25, 2020 07:45 | William Wan

offsite link Southern Italy Declares Lockdown, Curfew... Sun Oct 25, 2020 02:05 | James Bickerton

offsite link HERO: Man Stranded on Desert Island Stil... Sun Oct 25, 2020 02:14 | The Babylon Bee

offsite link UK Is Dishing Out £10,000 No-Appeal Fin... Sat Oct 24, 2020 22:25 | ITV

Anti-Empire >>

The Saker
A bird's eye view of the vineyard

offsite link Mail-in ballots: the US elites? ?plausible deniability? ploy to retain power Sun Oct 25, 2020 17:51 | amarynth
By Ramin Mazaheri and cross posted with PressTV The US obsession with mail-in voting is incomprehensible to the rest of the world, but the true reason behind this nonsense is

offsite link Global arms embargo on Iran lifted, Tehran hails victory: Al Mayadeen TV Report Sun Oct 25, 2020 10:25 | amarynth
http://middleeastobserver.n... Video link: https://www.youtube.c... Description: Al Mayadeen TV report on the implications of the lifting of the international arms embargo on Iran. Source: Al Mayadeen TV (YouTube) Date: October 18, 2010 (Important Note: Please

offsite link Moveable Feast Cafe 2020/10/24 ? Open Thread Sat Oct 24, 2020 23:00 | Herb Swanson
2020/10/24 22:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link ?Democracy? vs. Covid ? A No-Go Sat Oct 24, 2020 01:10 | amarynth
by Peter Koenig for the Saker Blog Brussels (EU and European NATO Headquarters) ? On 21 October 2020, the German Press Agency (dpa) reports that Germany pledges NATO soldiers for

offsite link Azerbaijani Forces Rush To Capture Lachin Cororidor From Retreating Armenians Fri Oct 23, 2020 21:52 | amarynth
South Front The Armenian defense in the southern part of the Nagorno-Karabakh region seems to be collapsing as the advancing Azerbaijani forces are about to reach the strategic Lachin corridor.

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link A Woulfe in judges clothing

offsite link Sarah McInerney and political impartiality Anthony

offsite link Did RTE journalists collude against Sinn Fein? Anthony

offsite link Irish Examiner bias Anthony

offsite link RTE: Propaganda ambush of Sinn Fein Anthony

Public Inquiry >>

Amidst Covid-19 Spread, IMF and World Bank Signal Debt Relief for Poor Countries

category international | economics and finance | press release author Tuesday March 24, 2020 15:03author by Kate Zeller - Jubilee USA Network Report this post to the editors

Developing Countries Demand Debt Payments Stop

On Monday the heads of the IMF and World Bank stated support for debt relief for very poor countries as the coronavirus spreads. African Finance Ministers called for suspension of debt payments to free up $44 billion to fight Covid-19. Ecuador's Congress also demanded its government stop paying debt.

Washington, DC - On Monday the heads of the IMF and World Bank stated support for debt relief for very poor countries as the coronavirus spreads. African Finance Ministers called for suspension of debt payments to free up $44 billion to fight Covid-19. Ecuador's Congress also demanded its government stop paying debt.

"Countries need to prioritize fighting Covid-19 and billions can be freed up right away by halting debt payments," stated Eric LeCompte who leads the development group Jubilee USA and serves on United Nations debt expert groups. "Both among lenders and borrowers, we see growing calls to stop paying debt to save lives during the pandemic."

At G20 Finance Minister and Central Bank meetings on Monday, World Bank President David Malpass encouraged world leaders to allow very poor countries to stop paying debt. At the same meeting, the IMF's leader, Kristalina Georgieva noted the replenishing of funds in an IMF debt relief and aid mechanism that was used during the 2014 Ebola epidemic that struck 3 African countries.

"The IMF and World Bank calls for debt relief are critical in order to immediately strengthen health systems in the developing world," stated LeCompte. "In order to support all countries who need help and stop a global financial crisis we will need to broaden debt relief efforts, raise aid monies and move forward agreements that can stabilize the economy."

The leaders of LeCompte's organization, Jubilee USA, sent a letter to the head of the International Monetary Fund on Monday to take action to stop negative economic impacts of the Covid-19 virus.

The letter urges expanded debt relief and aid to bolster health-care for developing countries impacted by the coronavirus. Additional letter recommendations include debt payment moratoriums, improved debt restructuring, encouraging public budget approval processes for countries and raising revenue by curbing corruption, tax evasion and tax avoidance.

Related Link: http://www.jubileeusa.org
© 2001-2020 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy