The World Bank is working on a debt suspension for the poorest countries

C19 World's Latest News

Coronavirus updates with articles, statistics and graphs: total and new cases, deaths per day, mortality and recovery rates

The World Bank is working on a debt suspension for the poorest countries

ezgif.com-gif-maker (4)

The health crisis has dealt a major blow to the world’s poorest countries, causing a recession that could push more than 100 million people into extreme poverty.

That is why the World Bank and the International Monetary Fund urged G20 countries to establish the Debt Service Suspension Initiative. The DSSI is helping countries concentrate their resources on fighting the pandemic and safeguarding the lives and livelihoods of millions of the most vulnerable people. Since it took effect on May 1, 2020, the initiative has delivered more than $5 billion in relief to more than 40 eligible countries.

In all, 73 countries are eligible for a temporary suspension of debt-service payments owed to their official bilateral creditors. The G20 has also called on private creditors to participate in the initiative on comparable terms. The suspension period, originally set to end on December 31, 2020, has been extended through December 2021.

The World Bank and the IMF are supporting implementation of the DSSI—by monitoring spending, enhancing public debt transparency, and ensuring prudent borrowing. DSSI borrowers commit to use freed-up resources to increase social, health, or economic spending in response to the crisis. They commit to disclose all public sector financial commitments (involving debt and debt-like instruments). They also commit to limit their non-concessional borrowing to levels agreed under IMF programs and the World Bank’s non-concessional borrowing policies.

close

Oh salut toi 👋
Ravi de vous rencontrer.

Inscrivez-vous pour recevoir les dernières nouvelles dans votre boîte de réception, tous les jours.

Share on
Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *

The World Bank is working on a debt suspension for the poorest countries

Advertisement

The World Bank is working on a debt suspension for the poorest countries

Advertisement

Subscribe to Our Newsletter

Oh hi there 👋
It’s nice to meet you.

Sign up to receive latest news in your inbox, every day.

The World Bank is working on a debt suspension for the poorest countries

Advertisement

Follow us on Instagram!

Apple Watch Series 6

The World Bank is working on a debt suspension for the poorest countries

Advertisement

ezgif.com-gif-maker (4)

The World Bank is working on a debt suspension for the poorest countries

The health crisis has dealt a major blow to the world's poorest countries, causing a recession that could push more than 100 million people into extreme poverty.

That is why the World Bank and the International Monetary Fund urged G20 countries to establish the Debt Service Suspension Initiative. The DSSI is helping countries concentrate their resources on fighting the pandemic and safeguarding the lives and livelihoods of millions of the most vulnerable people. Since it took effect on May 1, 2020, the initiative has delivered more than $5 billion in relief to more than 40 eligible countries.

In all, 73 countries are eligible for a temporary suspension of debt-service payments owed to their official bilateral creditors. The G20 has also called on private creditors to participate in the initiative on comparable terms. The suspension period, originally set to end on December 31, 2020, has been extended through December 2021.

The World Bank and the IMF are supporting implementation of the DSSI—by monitoring spending, enhancing public debt transparency, and ensuring prudent borrowing. DSSI borrowers commit to use freed-up resources to increase social, health, or economic spending in response to the crisis. They commit to disclose all public sector financial commitments (involving debt and debt-like instruments). They also commit to limit their non-concessional borrowing to levels agreed under IMF programs and the World Bank’s non-concessional borrowing policies.

Share on facebook
Facebook
Share on google
Google+
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest

Leave a Reply

Your email address will not be published. Required fields are marked *

The World Bank is working on a debt suspension for the poorest countries

Advertisement

The World Bank is working on a debt suspension for the poorest countries

Advertisement

Subscribe to Our Newsletter

Oh hi there 👋
It’s nice to meet you.

Sign up to receive latest news in your inbox, every day.

The World Bank is working on a debt suspension for the poorest countries

Advertisement

Follow us on Instagram!

Apple Watch Series 6

The World Bank is working on a debt suspension for the poorest countries

Advertisement

Oh hi there 👋
It’s nice to meet you.

Sign up to receive latest news in your inbox, every day.