Economics
G-20 to Freeze Sovereign Debt Payments for Poor Countries: FT
Vegetables are displayed for sale at a market during a lockdown imposed due to the coronavirus in Mumbai, India, on April 5.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
The G-20 is close to a deal to allow lower income countries to freeze their government debt repayments, the Financial Times reported. The deal would put a moratorium on payments for at least six to nine months, with the possibility of going through to 2021.
The move would be part of a plan to help the nations grapple with the coronavirus pandemic, and stave off an emerging markets debt crisis, according to a senior G-20 official the newspaper cited.