4/12/2021
(Adds quotes from statement, details and background)
WASHINGTON, April 12 (Reuters) - World Bank President David
Malpass and José Manuel Barroso, chair of the Gavi vaccine
alliance, on Monday discussed the importance of countries with
excess COVID-19 vaccine supplies releasing them as soon as
possible, the World Bank said.
Malpass expressed his desire to work closely with Gavi on a
2022 strategy, including helping expand vaccine production
capacity for developing countries, the bank said in a statement.
The two officials also discussed the need for more
transparency by countries, suppliers and development partners on
vaccine contracts, and regarding national export and supply
World Bank, Gavi urge countries with excess COVID-19 vaccines to release them
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UPDATE 1-IIF: Debt service relief extension won t impact private creditors Reuters 6 hrs ago
LONDON, April 9 (Reuters) - Private sector creditors do not expect to be significantly affected by the latest extension of the G20 Debt Service Suspension Initiative (DSSI), the Institute of International Finance (IIF) said on Friday.
In a letter sent to the G20 group of major governments during the Spring meetings of the International Monetary Fund and World Bank, the IIF said more coordination between various creditors was needed as part of efforts to help the poorest nations tackle their debt burdens. Given the diversity of creditors and debt instruments and heightened risks for debt sustainability in some countries an appropriate forum for creditor coordination is urgently needed, the group said in the letter.
IMF chief says creditor community forming to deal with Chad debt
04/07/2021 | 02:46am EDT
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WASHINGTON (Reuters) - Chad s creditors will get together within the next week to deal with the African country s request for debt relief under a new common framework agreed last year by the Group of 20 major economies and the Paris Club of official creditors, IMF chief Kristalina Georgieva said on Tuesday.
Georgieva announced the move during a broader discussion about debt concerns during the spring meetings of the International Monetary Fund and the World Bank.
She said it was critical to increase transparency about country s debt burdens, and to involve all creditors in any debt restructuring or rescheduling process. Georgieva also urged countries to seek such debt treatment early to boost their chances to return to sustainable growth.
SDRs and debt holidays still just a band-aid for debt-hobbled countries
April, 9, 2021
LONDON (Reuters) -Debt experts, charity groups and investors welcomed news on Wednesday that the world’s poorest countries will get new IMF funds and COVID-19 debt relief, but they also cautioned that for some it would still only be a band-aid solution.
A new $650 billion allocation of the IMF’s quasi currency known as Special Drawing Rights (SDRs) will provide over $20 billion of funding, while an extended repayment holiday on loans from rich G20 nations will temporarily save another $7 billion.
The $20 billion share of the SDR increase alone is more than all the emergency money the IMF provided in Africa here last year and in relative terms, those under the most serious stress will receive the biggest benefit.
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