Pakistan (16th April, 2020): G-20 countries to postpone debt recovery amid global pandemic.
According to reports of Baaghi TV, the G-20 countries have decided to delay the collection of loans from poor countries.
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In a joint statement by the IMF and the World Bank, reports have emerged pertaining to the postponement of loans by the G-20 states. The global financial institutions have said that the decision will help poor countries in dealing with the Coronavirus. The World Bank and other institutions are working to release approximately $200 billion to help the poor countries, as per the IMF’s MD.
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It is being reported that the countries can spend as much as they can to combat the spread of the virus but they must retain the receipts. Pakistan has said that the G-20 should join the UN in order to seek loan assistance from the IMF.
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According to reports of a foreign news agency, bilateral loan payments will begin in May and continue till the end of the year. On the other hand, the IMF and the World Bank have described the economic losses resulting from the Coronavirus epidemic and the lockdown as a threat to the economy.
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Economists have said that Pakistan will have to work harder to overcome the situation.
Baaghi TV urges you to play your part as a responsible citizen by staying at home to ensure the safety of yourself, your loved ones and the community.
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