The Group of Twenty and the International Monetary Fund discuss ways to recover the economies of Arab countries ... Wednesday

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The Group of Twenty and the International Monetary Fund discuss ways to recover the economies of Arab countries ... Wednesday

Twenty Group

 29 September 2020 06:33 PM

Riyadh - Mubasher: The Group of Twenty, headed by the Kingdom of Saudi Arabia and the International Monetary Fund, is discussing ways to enhance opportunities in Arab countries, during a hypothetical meeting, tomorrow, Wednesday.

The G20 stated, in a statement issued today, Tuesday, that the meeting will discuss enhancing opportunities for Arab countries, especially to achieve a strong recovery from the Coronavirus pandemic.

The meeting will be chaired by the Saudi Finance Minister, Muhammad Al-Jadaan, the Governor of the Saudi Arabian Monetary Agency, Ahmed Al-Khulaifi, and the Director General of the International Monetary Fund, Kristalina Georgieva.

The meeting will include finance ministers and central bank governors from Arab countries, heads of international and regional financial institutions, in addition to a number of prominent specialists.

The meeting will enhance the efforts of the Group of Twenty and the International Monetary Fund in achieving the comprehensive development of the region.

It is worth noting that the new Coronavirus pandemic has more affected the most vulnerable groups in societies, stressing the need to enhance access to opportunities for all, including in the Arab region. 

In July 2020, finance ministers and central bank governors under the Presidency of the Kingdom of Saudi Arabia of the G20 approved a "list of policy options to enhance access to opportunities for all," which includes policy options that will enhance the immediate response to the emerging coronavirus pandemic and push economies towards a solid and comprehensive recovery.

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Edited September 30, 2020 by screwball

[yota691]

The IMF calls on creditors and debtors to take decisive steps and start restructuring soon

 

 

277 Economie 2020/10/19 10:38 ta Baghdad today -

follow up Kristalina Gorgieva, Managing Director of the International Monetary Fund, called for decisive steps to be taken to address the mounting debt burdens that are unsustainable in some countries . Restructuring Gorgieva urged creditors and debtors to start restructuring processes sooner rather than later, according to Reuters . She said that a six-month extension of the official bilateral payments freeze that the G20 countries agreed on last week would be helpful . The Director of the International Monetary Fund emphasized the need for faster action. "We are gaining some time, but we have to face the truth, which is the need to take a lot of decisive measures in the future, " she added. It called on creditors and debtors to immediately begin restructuring the debts of countries whose debts have reached levels that are difficult to repay . Deferred debt Last week, the Executive Board of the Monetary Fund agreed to delay the debts of 28 member states for an additional 6 months . This measure comes to support the governments of these countries in dealing with the Corona pandemic, and to boost their spending on health services . Last April, the IMF agreed to postpone payment of 25 countries' dues to the International Monetary Fund for a period of 6 months, equivalent to $ 227 million.