The Sunday Morning Herald has reported that the Finance officials from the Group of 20 countries have called for all official bilateral creditors to implement fully a short-term debt freeze for the world’s poorest countries.
Key notes
Stopped short of extending the initiative into next year.
Sources briefed on the G20 meeting said there was strong support for extending the standstill beyond the end of 2020, given the severity of the economic fallout from the coronavirus pandemic.
The group’s final communique said only that the issue would be considered in the second half of 2020.
Market implications
The relief should support emerging markets which would be a negative factor for the US dollar and boost the euro.
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