PARIS, France (AFP) — Rich nations appeared yesterday to be moving towards a temporary debt relief deal to help poor countries weather the coronavirus pandemic.

Finance ministers and central bankers from Group of Seven (G7) countries said Tuesday they favour a temporary halt to debt payments from the world’s poorest countries, but only if G20 governments also agree.

Noting that poor countries face the most hardship in trying to deal with the coronavirus pandemic, the G7 advanced nations said they stand “ready to provide a time-bound suspension on debt service payments” owed to their governments “if joined by all bilateral official creditors in the G20 and as agreed with the Paris Club”.

French Finance Minister Bruno Le Maire announced earlier that G20 nations and the Paris Club of wealthy nation creditors had agreed to a one-year

http://www.jamaicaobserver.com/business-observer/rich-nations-moving-toward-virus-debt-relief-for-poor-countries_191995