New Events

International

no events posted in last week

Blog Feeds

Anti-Empire

Anti-Empire

offsite link Masks Are the Vestiture of the Faithful,... Sat Feb 27, 2021 20:19 | Laura Dodsworth

offsite link Armenia’s Military Mutinies Against th... Sat Feb 27, 2021 19:50 | Anti-Empire

offsite link Merkel: “Digital Vaccination Certifica... Sat Feb 27, 2021 17:15 | Samuel Osborne

offsite link ‘No One Cares if We Die’: Ex-Syrian ... Sat Feb 27, 2021 16:51 | Lindsey Snell

offsite link Teachers Unions Say Schools Cannot Reope... Sat Feb 27, 2021 14:34 | The Babylon Bee

Anti-Empire >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Mainstream media: Failing to speak truth to power

offsite link David Quinn’s selective tolerance Anthony

offsite link A Woulfe in judges clothing Anthony

offsite link Sarah McInerney and political impartiality Anthony

offsite link Did RTE journalists collude against Sinn Fein? Anthony

Public Inquiry >>

Human Rights in Ireland
A Blog About Human Rights

offsite link Poor Living Conditions for Migrants in Southern Italy Mon Jan 18, 2021 10:14 | Human Rights

offsite link Right to Water Mon Aug 03, 2020 19:13 | Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

offsite link Turkish President Calls On Greece To Comply With Human Rights on Syrian Refugee Issues Wed Mar 04, 2020 17:58 | Human Rights

offsite link US Holds China To Account For Human Rights Violations Sun Oct 13, 2019 19:12 | Human Rights

Human Rights in Ireland >>

Spirit of Contradiction

offsite link The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason

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

offsite link What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith

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

Spirit of Contradiction >>

G7 Finance Ministers Support Debt Relief for Poor Countries Combating COVID-19 Crisis

category international | economics and finance | press release author Friday September 25, 2020 21:38author by Zach Conti - Jubilee USA Report this post to the editors

The G7 supports a process for debt cancellation for vulnerable countries, they announced this morning after Treasury convened a special Finance Ministers meeting.

The G7 supports a process for debt cancellation for vulnerable countries, they announced this morning after Treasury convened a special Finance Ministers meeting. In a G7 statement, the ministers also encouraged an extension of the G20 Debt Service Suspension Initiative (DSSI) into next year for the world’s 73 poorest countries. "The G7 recognizes that some countries will need debt cancellation and now is calling for a process to cut debts," stated Eric LeCompte, the Executive Director of Jubilee USA Network and a United Nations finance expert. "With the poorest countries struggling with the economic and health impacts of the coronavirus, countries desperately need more aid and debt relief." In April, the G20 agreed to a process for the 73 poorest countries to stop paying debts through 2020. So far, the initiative has allowed 43 of the poorest countries to free $5.3 billion for health and social spending to respond to the pandemic. The G7 statement encouraged private creditors and banks to "voluntarily" participate in the debt payment suspension and seemed to criticize China for not fully participating in the initiative. "Reading between the lines, the G7's statement is hard on China and weak on private creditor participation," said LeCompte. "All Chinese government entities should stop taking debt payments from poor countries and stronger action must be taken to ensure the private sector joins the coronavirus debt relief initiatives." Earlier this month, several Finance Ministers joined the World Bank and IMF chiefs in calling to extend the DSSI into 2021 and arguing that private creditors should stop collecting poor country debts. "It's time to extend debt relief initiatives to all developing countries, including Middle-Income Countries, struggling with the coronavirus pandemic," shared LeCompte.  In October and November, G20, IMF and World Bank meetings will discuss the future of coronavirus debt suspension and relief efforts. Read the G7 Statement here. 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

Related Link: https://home.treasury.gov/news/press-releases/sm1135
© 2001-2021 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