The global minimum corporate tax rate of 15% proposed by the Group of Seven wealthy nations is just a signpost and it is too early to say whether agreement can be reached on that or any figure, Irish Finance Minister Paschal Donohoe said on Thursday.
The group of creditors of Cuba said on Thursday they had reached a deal to give more time to the Republic of Cuba to honor several payments due under the 2015 Arrangement, while maintaining the present value of the amounts.
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WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen told lawmakers on Thursday that debt relief for poor and developing countries would be hampered without new funding, while $2.7 billion in current unmet U.S. commitments to the World Bank, International Monetary Fund and other institutions would grow.
Yellen, in prepared remarks to a U.S. House of Representatives Appropriations subcommittee, said that the G20 Debt Service Suspension Initiative for poor countries and a new debt restructuring “Common Framework” both need funding from Congress.
“Without new funding, the United States could be forced to delay the multilateral debt process under the Common Framework and charge much higher interest rates on DSSI debt service suspensions,” Yellen said.
Tanzania has asked the International Monetary Fund for a $571 million loan to help it tackle the challenges caused by the COVID-19 pandemic, its finance minister said on Thursday as he raised spending in the budget for the next financial year.
China plans to reform the way banks calculate deposit rates, setting new ceilings of up to 75 basis points above the benchmark rate for some lenders, sources said.