World Bank wants debt repayments by ‘Poor Countries’ Suspended

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The World Bank has appealed to member countries of the G20 to allow, “the poorest countries to suspend all repayments of official bilateral credit,” due to the ravaging COVID-19.

The World Bank President, David Malpass, made the call during the G20 finance ministers’ conference call yesterday, where he said the debt repayment should be suspended until the World Bank and the International Monetary Fund (IMF) had assessed the reconstruction and financing needs of the poor countries.

According to him, the World Bank and the IMF were ready to work quickly with official creditors and other international organisations as partners to finalise a workable repayment process in April.




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