Scholz- G20 debt moratorium should be followed by more measures
BERLIN (Finance) – The debt moratorium to aid poor countries in their survival during the coronavirus crisis must be followed by more measures, according to German Finance Minister Olaf Scholz.
Scholz also added that China’s support for those international efforts was crucial.
Finance ministers and central bank governors of G20- a group of the world’s largest economies- participated in a virtual meeting on Wednesday to address the global challenges presented by the coronavirus pandemic.
“I’m convinced that the poorest countries in the world need support and therefore a moratorium on debt must be guaranteed. This requires international cooperation – also far beyond the previous circles. So it’s important that not only the traditional countries do it… a contribution from China would of course be very important in this context.”
– Olaf Scholz, Germany’s Finance Minister
A G20 decision to suspend debt payments, Scholz said, must be followed by additional measures to allow the poorest countries across the world to recover from the crisis.
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.