You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

World Bank chief says G-20 likely to extend debt-suspension plan

For poorer nations until the end of the year.
Image: David Malpass

The Group of 20 gathering of finance ministers from the world’s largest economies this week is likely to extend debt-service suspension initiative for poorer nations until the end of the year, World Bank President David Malpass said.

The extension of the reprieve in debt-service payments by many of the world’s poorer nations will probably be the final, Malpass told reporters on a call Monday.

Moneyweb Insider INSIDERGOLD

Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process.

Choose an option:

R63 per month
R630 per year SAVE R126

You will be redirected to a checkout page.
To view all features and options, click here.

A monthly subscription is charged pro rata, based on the day of purchase. This is non-refundable and includes a R5 once-off sign-up fee.
A yearly subscription is refundable within 14 days of purchase and includes a 365-day membership.

Click here for more information.

The G-20’s Debt Service Suspension Initiative, which took effect last May, delivered $5 billion in relief for more than 40 countries in 2020, according to the World Bank. The G-20 last October extended the program, originally set to expire in December 2020, through June, and agreed to consider a further six-month extension later.

The World Bank has made good progress in helping countries through the pandemic, but much work remains to be done to achieve sustainable and broad-based economic growth without harming the environment or leaving hundreds of millions of families in poverty, he said.

“I expect resources will be a challenge,” Malpass said. “I think there will be years of greater need for deeply concessional resources.”

© 2021 Bloomberg

COMMENTS   0

You must be signed in to comment.

SIGN IN SIGN UP

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles: Advanced Search
Click a Company: