Oct 14, 2020
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World Bank offers G20 to allocate another $ 25 billion to fight COVID

Another $ 25 billion must be allocated to fight the coronavirus in the poorest countries. This proposal was made by the head of the World Bank, David Melpass.

He warned that such states are still facing "indiscriminate default", reports Reuters.

The World Bank and the International Monetary Fund (IMF) are proposing that creditors freeze the debt of the poorest countries for a longer period. According to Melpass, official creditors from the G20 may extend the moratorium on debt payments for another six months, but it is very difficult to attract private creditors to this.

First of all, the World Bank calls on China, which insists that the billions that Chinese state corporations allocated to poor countries are not a debt to the state, but private loans.

As wrote, earlier the President of South Africa, Cyril Ramaposa, promised that South Africa would seek the permanent presence of an African representative in the UN Security Council.

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