China Says It Has Given Us 2 1b Of Debt Relief To Poor Countries


Source: babab.net

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China has extended debt relief to developing countries worth a combined US$2.1 billion under the G20 framework, the highest among the group’s members in terms of the amount deferred, the country’s Finance Minister Liu Kun said on Friday (Nov 20). Liu’s comments come as African countries, hammered by the COVID-19 pandemic, face another debt crisis, and will need more long-term help than the latest G20 Debt Service Suspension Initiative (DSSI) offers them to ward off trouble ahead and keep much-needed investments coming in. The China International Development Cooperation Agency, the country’s aid agency, and the Export-Import Bank of China, the...