SMM News: G20 finance ministers and central bank governors held a video conference on the 18th, promising to continue to adopt all available policy tools to support the global economic recovery.
The day's meeting was chaired by Saudi Arabia, which holds the rotating presidency of the G20. The communique issued at the meeting said that due to the impact of the new crown epidemic, the outlook for the world economy is still full of uncertainties. The G20 is committed to continuing to adopt all available policy tools to safeguard people's livelihood, employment and income, support the global economic recovery, enhance the resilience of the financial system, and guard against downside risks.
The meeting reaffirmed its support for the International Monetary Fund to play the central role of the global financial safety net and welcomed financial contributions to the organization to enhance its crisis response capacity and address the key financial needs of low-income countries.
The meeting welcomed the progress made by the G20 debt Relief Initiative. Officials at the meeting agreed to consider extending the debt suspension period for the poorest countries due in December, and a decision will be made in the second half of this year in the light of the development of the new crown epidemic.
According to the communique of the meeting, as of the 18th, 42 of the world's poorest countries had requested a moratorium on debt payments until the end of this year, with a total deferred debt of about 5.3 billion US dollars.
On April 15 this year, G-20 finance ministers and central bank governors held a video conference to discuss and adopt the G20 "debt repayment Initiative for the poorest countries" and agreed to suspend principal and interest payments on the debts of the countries concerned due from May 1 to the end of this year.
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