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offsite link Ukraine Buys Huge Amounts of Russian Fue... Fri Jan 20, 2023 08:34 | Antonia Kotseva

offsite link Turkey Has Sent Ukraine Cluster Munition... Thu Jan 12, 2023 00:26 | Jack Detsch

offsite link New Israeli Government Promises to Talk ... Tue Jan 10, 2023 21:13 | Al Majadeen

offsite link Russia Training Iranian Pilots Ahead of ... Tue Jan 10, 2023 15:19 | The Times of Israel

offsite link Lukashenko Abolishes Copyright Protectio... Tue Jan 10, 2023 15:05 | Nikki Main

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Human Rights in Ireland
A Blog About Human Rights

offsite link UN human rights chief calls for priority action ahead of climate summit Sat Oct 30, 2021 17:18 | Human Rights

offsite link 5 Year Anniversary Of Kem Ley?s Death Sun Jul 11, 2021 12:34 | 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

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Lockdown Skeptics

The Daily Sceptic

offsite link Climate: The Movie is a Perfect Cure for Climate Anxiety Thu Mar 28, 2024 13:00 | Toby Young
Climate Change: The Movie, the new film by Martin Durkin, should be shown at every school in the country to disabuse anxious young people of the idea that we're in the midst of a 'climate emergency'.
The post Climate: The Movie is a Perfect Cure for Climate Anxiety appeared first on The Daily Sceptic.

offsite link The WHO?s Plot to Seize Power Over Nation States in Future Pandemics Must Be Stopped Thu Mar 28, 2024 11:12 | Will Jones
The World Health Organisation is gearing up to persuade the world's governments to sign a new pandemic treaty that would allow the unelected body to seize power over nation states in future pandemics, warns Matt Ridley.
The post The WHO’s Plot to Seize Power Over Nation States in Future Pandemics Must Be Stopped appeared first on The Daily Sceptic.

offsite link Easter Quiz: Why Are White Things So White? Thu Mar 28, 2024 09:00 | Steven Tucker
It's hard to tell the difference these days between genuine news stories relating to 'anti-racist' ? or, more realistically, anti-white ? ideas and the spoofs and fakes. Pit your wits against our Easter quiz.
The post Easter Quiz: Why Are White Things So White? appeared first on The Daily Sceptic.

offsite link Record Ozone ?Holes? Reported Despite 35-Year CFC Ban Thu Mar 28, 2024 07:00 | Chris Morrison
The ozone hole scare of the 1980s and the banning of CFCs was the template for the subsequent alarm promoting Net Zero. Yet the ozone hole is now back as large as ever, even after a 35-year CFC ban.
The post Record Ozone “Holes” Reported Despite 35-Year CFC Ban appeared first on The Daily Sceptic.

offsite link News Round-Up Thu Mar 28, 2024 00:50 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the virus and the vaccines, the ?climate emergency? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

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Voltaire Network
Voltaire, international edition

offsite link Moscow attack reminds us of the links between Islamists and Kiev's fundamentalis... Tue Mar 26, 2024 06:57 | en

offsite link Failure to assist a people in danger of genocide, by Hassan Hamadé Tue Mar 26, 2024 06:32 | en

offsite link Yugoslavia March 24, 1999 The Founding War of the New Nato, by Manlio Dinucci Sun Mar 24, 2024 05:15 | en

offsite link France opposes Russian Korean-style peace project in Ukraine Sat Mar 23, 2024 11:11 | en

offsite link Voltaire, International Newsletter N°79 Fri Mar 22, 2024 11:40 | en

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IMF Calls for New Global Debt Policies to Confront COVID Financial Crisis

category international | politics / elections | press release author Friday October 02, 2020 19:16author by Zachary Conti - Jubilee USA Report this post to the editors

IMF head Kristalina Georgieva warned that developing countries could face a second wave of economic crises just as they are recovering from the coronavirus pandemic. "... There is a need to reform the international debt 'architecture' ... to provide speedy and sufficiently deep debt relief to countries that need it, benefitting not only these countries but the system as a whole," wrote Georgieva and other top IMF officials in a Fund blog published Thursday.

IMF head Kristalina Georgieva warned that developing countries could face a second wave of economic crises just as they are recovering from the coronavirus pandemic. "... There is a need to reform the international debt 'architecture' ... to provide speedy and sufficiently deep debt relief to countries that need it, benefitting not only these countries but the system as a whole," wrote Georgieva and other top IMF officials in a Fund blog published Thursday.

"The IMF is declaring that global processes and policies must be reformed to address skyrocketing debt levels and countries facing debt crises," shared Eric LeCompte, the Executive Director of the religious development group Jubilee USA and a UN finance expert. "If we had better debt processes in place before the coronavirus struck, we may not have experienced an economic crisis of this magnitude."

In addition to international debt policy and process reforms, the Georgieva blog asserts the G20 should continue suspending debt payments for poor countries.

In April, the G20 agreed to the Debt Service Suspension Initiative, a process for the 73 poorest countries to stop paying debts through 2020. The initiative allowed 43 of the poorest countries to free $5.3 billion for health and social spending to respond to the pandemic. Without G20 action, the initiative expires at the end of the year.

"Unless we move forward additional aid and debt relief, too many countries could see lost decades of development," said LeCompte.

According to the IMF, about half of low-income countries faced severely high debt levels or financial crisis prior to the onslaught of COVID-19.

"Debt relief and aid needs to be increased and expanded to include more developing countries struggling to confront the health and economic impacts of the pandemic," noted LeCompte. "As we reform debt processes and policies to meet this current crisis, we must also strengthen processes to prepare us to combat future financial crises."

Read Georgieva's IMF blog here.


https://blogs.imf.org/2020/10/01/reform-of-the-international-debt-architecture-is-urgently-needed/
https://www.jubileeusa.org/pr_imf_debt_policies_covid_crisis

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