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offsite link North Korea Increases Aid to Russia, Mos... Tue Nov 19, 2024 12:29 | Marko Marjanovi?

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offsite link The Daily Sceptic Christmas Appeal Mon Dec 23, 2024 07:00 | Toby Young
The Daily Sceptic's Christmas Appeal launches today ? an opportunity for readers to show their appreciation of the work we do. Remember, donating just ?5/month or ?50/year will give you access to a range of premium perks.
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offsite link News Round-Up Mon Dec 23, 2024 01:12 | Richard Eldred
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offsite link Staff at ?100 Million Alan Turing Institute Attack ?Chaotic? Management Amid Diversity Row Sun Dec 22, 2024 19:00 | Richard Eldred
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The post Staff at ?100 Million Alan Turing Institute Attack ?Chaotic? Management Amid Diversity Row appeared first on The Daily Sceptic.

offsite link ?Our Irish Leaders Have Contributed to Hatred Against Jews? Sun Dec 22, 2024 17:00 | Richard Eldred
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The post ?Our Irish Leaders Have Contributed to Hatred Against Jews? appeared first on The Daily Sceptic.

offsite link ?Grocery Tax? to Hike Britons? Shopping Bills by ?56 in Labour Net Zero ?Inflation Boost? Sun Dec 22, 2024 15:00 | Richard Eldred
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The post ?Grocery Tax? to Hike Britons? Shopping Bills by ?56 in Labour Net Zero ?Inflation Boost? appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Voltaire, International Newsletter N?113 Fri Dec 20, 2024 10:42 | en

offsite link Pentagon could create a second Kurdish state Fri Dec 20, 2024 10:31 | en

offsite link How Washington and Ankara Changed the Regime in Damascus , by Thierry Meyssan Tue Dec 17, 2024 06:58 | en

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offsite link Voltaire, International Newsletter N?112 Fri Dec 13, 2024 15:34 | en

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G20 Finance Ministers Kick COVID Crisis Decisions to Fall

category international | economics and finance | press release author Saturday July 18, 2020 20:46author by Zach Conti, zach@jubileeusa.org - Jubilee USA Report this post to the editors

Chaired by Saudi Arabia, G20 Finance Ministers met virtually and focused on the global health and economic impacts of the coronavirus. A communiqué issued by the Ministers suggested most decisions on the crisis will be made later in the year.

Chaired by Saudi Arabia, G20 Finance Ministers met virtually and focused on the global health and economic impacts of the coronavirus. A communiqué issued by the Ministers suggested most decisions on the crisis will be made later in the year.

"The G20 Finance Ministers offered stronger language on the need for the private sector to participate in debt payment relief initiatives for the world's poorest countries," stated Jubilee USA Executive Director Eric LeCompte who monitors the G20. "This is important as some private sector creditors are resisting the debt relief process."

Jubilee USA organized a letter, signed by hundreds of organizations, to the G20 Finance Ministers ahead of their meeting calling for action in the face of the coronavirus crisis. The letter recommended expanded debt relief, more aid for developing countries, processes to curb tax evasion and corruption and enacting market and financial crisis protections. The letter was signed by more than 200 groups and included some of the largest religious, labor, human rights, development and environmental institutions.

In April the G20 approved a plan for 73 developing countries to suspend debt payments to G20 countries. 42 countries applied for the program that offers debt relief until the end of 2020.

"Given the severity of the current crisis, we hoped we'd see more action, including extending the debt payment suspension initiative into next year," said LeCompte who serves on United Nations finance expert groups. "Decisions on further debt payment suspensions, permanent reductions of debt, trillions of dollars of needed aid and extending debt relief to more struggling countries will be left for meetings later this year."

In the Fall, the United Nations General Assembly meets. However the next round of decisions on coronavirus health and economic solutions most likely will take place at October IMF and World Bank meetings and November G20 meetings.

"The G20 wants to see more aid and financing options to consider from the IMF in the Fall. This is an allusion to accessing global reserve funds or what's known as the Special Drawing Rights," said LeCompte. "The Finance Ministers also emphasized again a strong commitment to moving forward global anti-money laundering laws."

Read the G20 Finance Minister Communiqué below.

Jubilee USA Network is an alliance of more than 75 US organizations and 750 faith communities working with 50 Jubilee global partners. Jubilee USA builds an economy that serves, protects and promotes the participation of the most vulnerable. Jubilee USA wins critical global financial reforms and won more than $130 billion in debt relief to benefit the world's poorest people. www.jubileeusa.org

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Related Link: https://g20.org/en/media/Documents/G20%20FMCBG%20Communiqu%C3%A9%20-%20July%202020.pdf
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