U.S. pushing to speed up G20 common debt restructuring process

Asia's Tech News Daily

U.S. pushing to speed up G20 common debt restructuring process
© Reuters/Rick Wilking FILE PHOTO: Four thousand U.S. dollars are counted out by a banker at a bank in Westminster

WASHINGTON (Reuters) – The United States is calling for quicker progress on restructuring the debts of highly indebted countries under the Common Framework agreed last year by the Group of 20 economies and the Paris Club, a senior Treasury official said Wednesday.

G20 member China, in particular, had dragged its heels in some cases, the official told reporters ahead of G20 health and finance ministers in Rome on Friday.

“The Common Framework process is going slowly, in part because of China’s inability to make some decisions on common framework countries,” the official said. “So we’re urging the processes to be speeded up.”

The official said G20 members understood some countries would need additional aid after a temporary pause in debt payments expires at the end of this year, but were not expected to back a debt freeze under the Common Framework, as proposed by World Bank President David Malpass.

Once the debt freeze ends, countries’ debt service payments will be rescheduled into the future, rather than coming due all at once, the official said.

The World Bank this month warned that the debt burden https://www.reuters.com/business/poor-countries-debt-rose-12-record-860-bln-2020-world-bank-2021-10-11 of the world’s low-income countries rose 12% to a record $860 billion in 2020 as a result of the COVID-19 pandemic, and called for urgent efforts to reduce debt levels.

The U.S. official said Washington backed expanding the Common Framework – which currently includes only Chad, Zambia and Ethiopia – to beyond just the poorest countries, and urged steps to accelerate the pace of negotiations.

“The focus in the G20 has been on the Common Framework and trying to make that operational and make it more efficient,” the official said.

(Reporting by Andrea Shalal and David Lawder; Editing by David Gregorio)

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

‘It has exploded': GPs in Johannesburg swamped as omicron Covid infections surge

GPs and other primary healthcare providers in South Africa’s commercial metropolis Johannesburg said they are experiencing a surge of Covid-19 cases linked to the new omicron variant.  © EMMANUEL CROSET ... Read more »

Voices: Will Omicron be more contagious than Delta? A virus evolution expert explains what we know

A new variant named omicron (B.1.1.529) was reported by researchers in South Africa on November 24, 2021, and designated a “variant of concern” by the World Health Organization two days ... Read more »

Boris calls in army as deadly new variant threatens Christmas - Troops to help NHS drive

Boris Johnson has told the Downing Street coronavirus press conference that the British Army is being brought in to support the rollout of booster vaccines. The Government has accelerated the ... Read more »

This Christmas, consider buying a pink tutu for your son

© Provided by Independent Online (IOL) By Lisa Selin Davis Washington – “What are the best gender-neutral toy companies?” a friend recently asked me. To her, avoiding gender-coded presents meant ... Read more »

Metrorail recovers services in WC after telecomms affected by cable theft

© Graig-Lee Smith/EWN FILE: Metrorail says vandalism and cable theft causes major delays and cancellations on a daily basis. CAPE TOWN – Metrorail on Tuesday said technical teams in the ... Read more »

Omicron best-case scenario: Variant not causing severe illness to overtake Delta

© Provided by CapeTalk Image from Pixabay. Local and international experts have cautioned against panicking about the emergence of the latest Covid-19 variant. “South Africa… has been among the first ... Read more »

'Spider-Man' producer says a new trilogy with Tom Holland in the works

© Provided by Independent Online (IOL) It seems that Hollywood star Tom Holland isn’t packing up his Spider-Man suit any time soon as Sony producer Amy Pascal said not only ... Read more »

US strikes Colombia's FARC from terror list

© Provided by dw.com FARC members agreed to give up their weapons as part of a 2016 peal deal The US revoked its designation of FARC, Colombia’s most notorious left-wing ... Read more »

Attempted murder trial, stemming from shooting spree at Muncie party, begins

MUNCIE, Ind. — A young Muncie man stands accused of shooting seven people at a party near the Ball State University campus more than two years ago, but is on ... Read more »

Mexico to reverse course, give COVID-19 booster shots

Cars line up at the Paso del Norte international bridge in Ciudad Juarez, Mexico, below, on the border with El Paso, Texas, top, Monday, Nov. 8, 2021. The U.S. fully ... Read more »

Trevor Noah thinks U.S. travel restrictions with Africa are ‘total bulls***'

On Monday, “The Daily Show” host Trevor Noah voiced his displeasure over recently implemented travel restrictions for several southern African countries due to the discovery of the Covid-19 omicron variant. ... Read more »

Amazon's cloud unit launches new chips to take on Intel, Nvidia

FILE PHOTO: The logo for Amazon Web Services (AWS) is seen in Toronto By Stephen Nellis (Reuters) – Amazon.com Inc's cloud computing unit on Tuesday introduced two new custom computing ... Read more »

French police break up camp where Channel tragedy victims stayed

Photograph: Juan Medina/Reuters Armed French police have broken up a makeshift migrant camp outside Dunkirk where the 27 people who died at sea last week stayed before they drowned in ... Read more »

‘Somebody help me.' Kevin Strickland recalls his arrest and early days in prison

It’s been more than 40 years, but Kevin Strickland has no trouble remembering the details of the day he was arrested for three murders he always maintained he did not ... Read more »

Scientists race to learn more about COVID variant Omicron

President Joe Biden is urging Americans to once again stay vigilant of the new COVID-19 variant Omicron but not to panic. Travel bans are being put in place to try ... Read more »

'Miracle' rescue of Japan man after 22 hours at sea

© Provided by WION A 69-year-old man has been rescued in rough seas off Japan after spending 22 hours drifting in open water, with one official calling his survival a ... Read more »

Owl Swoops by for a 'Quick Nap' at North Carolina Wildlife Center

An owl swooped by a wildlife center in North Carolina’s Outer Banks islands on Monday, November 29, and took a short nap in a tree. This footage, recorded by Ocracoke ... Read more »

Ways to winterize your home before the cold and snow settles in

Even though you may not be ready for the winter, just yet, your home should be by now — but don’t fret, there’s still time to get it done before ... Read more »

Lisbon to open biggest vaccination site yet amid COVID-19 surge

1 / 5Lisbon to open biggest vaccination site yet amid COVID-19 surgeBiggest coronavirus disease (COVID-19) vaccination center set to open in Lisbon LISBON (Reuters) – Portugal will open its biggest ... Read more »

Ghislaine Maxwell: Pilot says Prince Andrew, Bill Clinton and Trump flew on Epstein's ‘Lolita Express'

© Independent Breaking News The pilot of the so-called “Lolita Express” testified during the trial of Ghislaine Maxwell that he flew presidents, princes and Hollywood stars on Jeffrey Epstein’s private ... Read more »

Roja, 30th November 2021, Written Update: Manickam slaps Anu after she suggests calling cops

© Provided by Pinkvilla In today’s episode, Anu approaches Manickam and informs him that the lady acting as Shenbagam at their home is not the genuine one, and her name ... Read more »

Here's why Sandra Bullock 'sometimes' wished she and her kids had the same skin colour

© Provided by Pinkvilla   Sandra Bullock is speaking up about her experiences as a mother of two black children. In an episode of Red Table Talk, the 57-year-old actress ... Read more »

Nora Fatehi's killer belly dance on 'Dilbar' leaves Terence Lewis mesmerised, watch video

© Provided by Zee News NEW DELHI: Moroccan beauty Nora Fatehi has once again set the internet on fire with her jaw-dropping belly dance on her popular hit track ‘Dilbar’. ... Read more »

Vicky Kaushal, Katrina Kaif wedding guest list OUT: Salman Khan, Alia Bhatt & more invited; Reports

© Provided by Pinkvilla The wedding of the year is bound to have the most star-studded guest list too! Well, guess what, Katrina Kaif and Vicky Kaushal’s wedding guest list ... Read more »

Tennessee declines to act on first complaint under new law banning critical race theory

The Tennessee education department declined to investigate the first complaint under a new state law that bans some teaching approaches to issues of race and bias – a complaint that ... Read more »

Senator Tom Cotton calls Dr Fauci a ‘so-called expert' for not being a psychologist or economist

Senator Tom Cotton calls Dr Fauci a ‘so-called expert’ for not being a psychologist or economist US Republican Senator Tom Cotton falsely claimed that White House chief medical adviser Dr ... Read more »

Bruce Anderson has point to prove against Aberdeen, says Livingston boss David Martindale

© LIVINGSTON, SCOTLAND – AUGUST 08: Livingston’s Bruce Anderson celebrates his opening goal during a c… Martindale is working on improving the 23-year-old’s all-round game but he does not want ... Read more »

Romance scammer charmed online daters — then conned them out of $400,000, feds say

A Nigerian national faces up to 10 years in prison after stealing nearly $400,000 from online daters he wooed as part of a years-long romance scam, according to federal prosecutors. ... Read more »

Republican big tech critics celebrate announcement Jack Dorsey will step down from Twitter

Republican big tech critics celebrate announcement Jack Dorsey will step down from Twitter Two GOP critics of Twitter and Facebook’s content policies celebrated the news on Monday that Jack Dorsey ... Read more »

Merritt Island man jailed on charges of kidnapping, human trafficking

A Merritt Island man faces multiple charges, including human trafficking, after being accused of holding a woman hostage for about eight months, police said. Robert Jeffrey Johnson Jr., 53, of ... Read more »

13-year-old accidentally shot by teen brother at south Wichita home dies, police say

A 13-year-old accidentally shot by a 16-year-old brother in a south Wichita home has died, police said. Police responded to the shooting at 6:13 p.m. Monday at a home in ... Read more »

Florida U.S. House candidate sues to get primary loss erased

© Provided by Associated Press FILE – Dale Holness, waits for results of a machine recount at the Voting Equipment Center in Lauderhill, Fla., on Friday, Nov. 5, 2021. The ... Read more »

Scotland's nine omicron cases linked to single event, says Nicola Sturgeon

Nicola Sturgeon – Jeff J Mitchell/Getty All nine cases of the omicron variant found so far in Scotland are linked to a “single private event”, Nicola Sturgeon has disclosed. The ... Read more »

Fauci: We'll Know How Severe Omicron Is In “A Week, Week And A Half”; S. African Cases Up 16X In 2 Weeks – Update

UPDATED: Director of National Institute of Allergy and Infectious Diseases, Dr. Anthony Fauci, told CNN’s Jake Tapper today that it will be 7-10 days before we know for sure about ... Read more »

Opinion: My family's Omicron question: What do we do now?

On the Wednesday morning before Thanksgiving, my wife, two kids, and I prepared to drive from St. Paul, Minnesota, to Omaha, Nebraska. We were all so eager to resume a ... Read more »

Newsweek Opinion Editor: Fauci Represents 'Extremely Arrogant And Highly Politicized Elite'

Ryan Grim, Kim Iversen, Robby Soave, and deputy opinion editor at Newsweek, Batya Ungar-Sargon, discuss Dr. Fauci‘s transition from bureaucrat to partisan. Read more »

Foley man charged with assaulting, threatening man and woman

MAYHEW LAKE TOWNSHIP — A Foley man faces assault charges for allegedly threatening a man with a gun and grabbing a woman by her neck, according to a criminal complaint ... Read more »

Ghislaine Maxwell trial: Trump, Clinton, Prince Andrew named-dropped during Epstein pilot testimony

Prince Andrew and former Presidents Bill Clinton and Donald Trump were among the high-profile men to get name-dropped Tuesday at Ghislaine Maxwell’s sex-trafficking trial in Manhattan. Maxwell’s defense attorney quizzed ... Read more »

Millennial Money: Sustain generosity beyond the holidays

What to know when getting a micro loan Micro loans have helped many owners across the country expand their small businesses.The Associated Press 2020 asked a lot from us. We ... Read more »

Polish women protest attempts to further restrict abortion

The Associated PressA view of dummies in a street to signify women who are suffering because of Poland’s restrictive abortion law and a proposal for further restrictions, during a demonstration ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic