Warning of job losses, increasing poverty, rising child mortality and high business failure rates in poorer countries, the groups urged G20 finance ministers, who will meet by teleconference next week, to take immediate action.
The G20’s freeze in official bilateral debt payments for the poorest countries should be extended through to end-April 2022 and broadened to include lower-middle and middle-income countries, based on their health and debt vulnerabilities, said the letter which was viewed by Reuters and will be published Thursday.
They called for International Monetary Fund members to replenish the Fund’s Catastrophe Containment and Relief Trust and allow the IMF to extend a freeze in debt payments by the poorest countries through April 2022.
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