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offsite link Four Newborns in Australia Have Died Bec... Wed Oct 21, 2020 21:51 | Levi Parsons

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The Saker
A bird's eye view of the vineyard

offsite link ?North Korea Rising? Interpreting Pyongyang?s Strategic Position After its Groundbreaking Military P... Wed Oct 21, 2020 20:21 | amarynth
By A.B. Abrams for the Saker Blog Marking the 75th anniversary of the foundation of the Korean Workers? Party, today the oldest ruling party in the world, a major military

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by Pepe Escobar with permission and first posted at Asia Times Sergey Lavrov, Russia?s Foreign Minister, is the world?s foremost diplomat. The son of an Armenian father and a Russian

offsite link Armenian Forces Use Their Last Chance To Turn Tide Of War With Azerbaijan Wed Oct 21, 2020 12:37 | amarynth
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offsite link Moveable Feast Cafe 2020/10/21 ? Open Thread Wed Oct 21, 2020 11:30 | Herb Swanson
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offsite link USA SITREP: FBI indicted Russian trombone player as a ?GRU hacker? Tue Oct 20, 2020 19:53 | The Saker
By Lilia Shumkova, a Moscow based independent journalist, for The Saker Blog A federal grand jury sitting in the Western District of the US state of Pennsylvania without citing any

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Spirit of Contradiction

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offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

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offsite link The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith

offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

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G20 Suspends Debt Payments for Poor Countries As the Coronavirus Spreads

category international | economics and finance | news report author Thursday April 16, 2020 00:46author by Kate Zeller - Jubilee USA Network Report this post to the editors

IMF Head Urges World Leaders to Save Lives and Livelihoods

The G20 announced a suspension of debt payments and interest for the world's 76 poorest countries in order to bolster health services to confront the coronavirus.

The G20 announced a suspension of debt payments and interest for the world's 76 poorest countries in order to bolster health services to confront the coronavirus. IMF head, Kristalina Georgieva and World Bank President, David Malpass spoke to the G20 Finance Ministers and Governors urging all types of debt holders, including banks, to offer debt relief for poor countries.

"The most innovative piece of the G20 commitment to suspend debt payments for the poorest countries, is to create a process that involves private creditors, banks and other commercial creditors to also offer debt relief," said Eric LeCompte, Executive Director of the religious development group Jubilee USA Network. "While we see progress, we still need to answer a lot of questions. What about other developing countries and emerging markets who need relief? How will a process move forward to cut debt when debt is unsustainable for countries?"

Kristalina Georgieva, the IMF's Managing Director at a press conference, urged that every resource possible be deployed to protect lives and livelihoods as the world struggles with the health and economic impacts of the COVID-19 pandemic.

"Georgieva's speech hits the right notes. All of us need to do everything we can and deploy every resource to save lives and protect jobs in the face of the coronavirus," noted LeCompte who monitors IMF reports and serves on United Nations debt expert groups. "A critical action that the world must take is to access financial reserves so all countries can survive this crisis. The leaders of the IMF must approve access to these reserves, or what's also known as the special drawing rights or SDRs."

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