Page 125 - Common Framework News Today

April 09, 2021 RIYADH — Saudi Arabias Finance Minister Mohammed Al-Jadaan, who is also the and acting minister of economy and planning, and Governor of the Saudi Central Bank Dr. Fahd Al-Mubarak participated virtually in the second G20 finance ministers and central bank governors’ (FMCBG) meeting under the Italian presidency. The meeting brought together finance ministers and central bank governors from G20 countries and invited countries, as well as heads of internation...

The United Nations The UN Secretary-General on Friday welcomed steps announced by the International Monetary and Finance Committee (IMFC) and the World Bank Group Development Committee, to address debt crises and other financial distress to economies arising from the COVID-19 pandemic, “as a sign of hope and renewed multilateralism.” In a statement issued via his Spokesperson, António Guterres said developing economies had struggled to secure enough financial resources to cope with the ons...

FM asks World Bank to factor in debt sustainability of vulnerable countries April 09, 2021 Wants the Bank to try sustaining its ongoing Covid19 crisis response Finance Minister Nirmala Sitharaman on Friday urged the World Bank to explore the possibility of sustaining its Covid19 crisis response keeping in mind the debt sustainability of vulnerable countries. In her intervention at the 103rd meeting of the Development Committee of the World Bank-IMF, Sitharaman at the same time lauded the effo...

World Bank/IMF: Committee says COVID-19 pandemic causing economic shock, others On BY Peter Egwuatu The Development Committee of World Bank Group , WBG and International Monetary Fund, IMF on Friday said that the coronavirus, COVID-19 pandemic has caused an unprecedented public health, economic, and social crisis, threatening the lives and livelihoods of millions. The Committee stated this at the ongoing World Bank /IMF 2021 virtual Spring Meeting. According to a communiqué from the Committee...

IMFC Statement Statement by Christine Lagarde, President of the ECB, at the forty-third meeting of the International Monetary and Financial Committee Virtual IMF Spring Meetings, 8 April 2021 Since the previous IMFC meeting in October 2020, global prospects have improved thanks to the progress made in vaccination campaigns and the forceful policy support provided to our economies. However, this brighter outlook remains subject to considerable uncertainty, also regarding the path of the pandemi...

All set: A poster is displayed on the IMF building yesterday in Washington. The IMF and the World Bank open their virtual spring meetings this week. — AP WASHINGTON: World Bank president David Malpass said he expects China, the United States and other Group of 20 major economies to extend a freeze in bilateral debt service payments through the end of 2021 when they meet this week. The G20 Debt Service Suspension Initiative (DSSI) has already helped countries defer some US$5.7bil (RM24bil) in ...

Gerry Rice, Director, Communications Department, IMF Mr. Rice: Hello everyone, and welcome to the 2021 Spring Meetings of the IMF and World Bank. It is very nice to have you with us today. I hope everyone is managing to stay safe and well. We are delighted to have with us the Managing Director of the International Monetary Fund, Kristalina Georgieva, and we are going to turn to her in a second. Just a reminder, I think everyone has received in advance a copy of our Global Policy Agenda, which w...

3 Min Read LONDON (Reuters) - The Bretton Woods Committee has formed a working group of senior bankers, academics and lawyers to propose ways to resolve a rise in sovereign debt distress in emerging markets as a result of the COVID-19 pandemic. The influential U.S.-based non-profit organisation said it will examine how to promote greater transparency around sovereign debt and achieve equitable burden sharing among all creditors, namely official, bilateral and private sector. Poor nations around...

Published 5 April 2021 A new study and dataset reveal previously unknown details about China—the world’s largest official creditor—and its lending practices to developing countries. A cache of documents shows that Chinese loan contracts have unusual secrecy provisions, collateral requirements, and debt renegotiation restrictions. A new study and dataset reveal previously unknown details about China—the world’s largest official creditor—and its lending practices to developing count...

The IMF and World Bank meetings this spring will have to address how to deal with the impacts of the pandemic and implement support measures.