Since 1975
  • facebook
  • twitter
  • instagram
  • Home
  • G-7 backs debt freeze extension for poor countries

G-7 backs debt freeze extension for poor countries

"I told my G-7 counterparts that it is essential to ensure that burdens are shared fairly by all creditors including China," Japan's Finance Minister Taro Aso told reporters after the session. (Reuters)
Short Url:
26 Sep 2020 03:09:40 GMT9
26 Sep 2020 03:09:40 GMT9

TOKYO: Finance ministers of the Group of Seven major countries Friday expressed their support for an extension of a freeze on debt repayments for developing nations with fragile medical and fiscal systems.

In a teleconference, the officials of Britain, Canada, France, Germany, Italy, Japan and the United States discussed measures to revive the world economy hurt by the novel coronavirus pandemic.

They adopted a joint statement that showed their support for the extension of the international debt relief program, currently set to expire at year-end.

The statement also said that the Group of 20 finance ministers and central bank heads will also establish a framework for debt restructuring for developing countries at their meeting in October.

The G-7 finance ministers hold a teleconference on measures to address the COVID-19 crisis regularly. From Japan, Finance Minister Taro Aso attended Friday’s session.

“I told my G-7 counterparts that it is essential to ensure that burdens are shared fairly by all creditors including China,” Aso told reporters after the session.

JIJI Press

topics
Most Popular
Recommended

return to top