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The Saker
A bird's eye view of the vineyard

offsite link The strategic importance of Ma?rib: Saudi-backed Hadi?s ?last stronghold? Thu Feb 25, 2021 10:26 | amarynth
Middle East Observer Video link: https://www.youtube.c... Description:  TV report on the strategic importance of Ma?rib province for the fate of the ongoing conflict in Yemen, particularly following reports that Sana?a-led forces

offsite link Ukraine SITREP (as seen from Hungary) Wed Feb 24, 2021 22:57 | The Saker
Intro by the Saker: following my article on the situation in the Ukraine, I got the following email from a reader from Budapest: “You mention about how the Ukrainian government

offsite link The Ukraine?s many ticking time bombs Wed Feb 24, 2021 00:52 | The Saker
[this analysis was written for the Unz Review] While the Ukraine has mostly been out of the news, there were bigger stories out there, things have gone disastrously wrong under

offsite link Russia Showcases Operations Of Its Combat Drones In Syria. Time To Push Idlib? Tue Feb 23, 2021 17:35 | amarynth
South Front Russia released a video showing its Orion combat drone carrying out strikes on targets in Syria. This marked the very first time such footage was being released. It

offsite link Moveable Feast Cafe 2021/02/23 ? Open Thread Tue Feb 23, 2021 16:30 | Herb Swanson
2021/02/23 16:30:04Welcome 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

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Mainstream media: Failing to speak truth to power

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offsite link A Woulfe in judges clothing Anthony

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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 >>

COVID Crisis: G20 Defers Action on Aid, Tax and Debt Cancellation

category international | economics and finance | press release author Wednesday October 14, 2020 22:00author by Zach Conti - Jubilee USA Report this post to the editors

G20 finance ministers agreed to extend debt payment relief for the 73 poorest countries and, in principle, to have a common framework to cancel debts. The G20 Finance Ministers and Central Bank Governors met on global COVID-19 response plans ahead of the Annual IMF and World Bank Meetings.

G20 finance ministers agreed to extend debt payment relief for the 73 poorest countries and, in principle, to have a common framework to cancel debts. The G20 Finance Ministers and Central Bank Governors met on global COVID-19 response plans ahead of the Annual IMF and World Bank Meetings. "Debt payment relief for the poorest countries is good news, but it's a short term solution,” said Eric LeCompte the Executive Director of Jubilee USA Network and a United Nations finance expert. "We're disappointed not to have a stronger agreement on a permanent debt reduction process, yet, but it's hopeful that the G20 is holding a special meeting on this process in the coming weeks.” G20 finance ministers will hold a special meeting before G20 presidents and prime ministers meet in November, on a country debt reduction plan or the “Common Framework for Debt Treatments beyond DSSI.” The announcement came as the International Monetary Fund forecast a contraction of 4.4 % for this year in the global economy and a recovery that will be long, uneven and prone to setbacks. "The only way for some developing countries to have the resources they need to recover from the coronavirus crisis is to have a process that permanently reduces their debts,” stated LeCompte. “Given that some of the greatest increases in poverty and job loss are in these developing countries, the G20 can't afford to wait any longer on moving forward a plan.” The G20 expressed disappointment at the absence of private creditor participation in the debt suspension initiative. "The G20 should be doing more to press the private sector on debt relief. It seems since April, the position of the G20 has weakened on private sector participation in debt relief,” noted LeCompte.  International tax cooperation was also a focus of the G20. The countries had vowed to agree this year to a global plan for taxing digital revenues and ensuring multinationals pay tax, but they now pushed back that timeline to mid-2021. “Part of the reason we are in this mess, is because countries aren't raising enough revenues. Now revenues are plummeting in many countries because of the pandemic and the G20 must make more progress on global tax solutions,” explained LeCompte. "An immediate way to combat the coronavirus and support developing countries in crisis is to access trillions of dollars in global reserve funds or the Special Drawing Rights. Unfortunately the G20 made little progress on authorizing what could be a lifesaving measure for countries in crisis." Read the G20 communique here. Read Jubilee USA's press release on the IMF's World Economic Outlook and Global Financial Stability reports here.  https://www.jubileeusa.org/imf_econ_reports_inequality_poverty_covid?utm_campaign=ps_g20_finmin_cbg_meeting_2020&utm_campaign=ps_g20_finmin_cbg_meeting_2020&utm_medium=email&utm_m...eeusa

Related Link: https://www.jubileeusa.org/pr_covid_g20_defer_action
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