The G20, which brings together the world's largest economies, also reiterated the pledge to deploy "all available policy tools" to deal with the health and economic crisis caused by Covid-19. The G20 finance ministers and central bankers endorsed "a time-bound suspension of debt service payments for the poorest countries," and in the communique following their virtual meeting, said "All bilateral official creditors will participate in this initiative." The Washington-based lenders have rushed to roll out emergency financing and have received requests for aid from 100 countries. The G20 called on private creditors, working through the Institute of International Finance, to participate in the initiative which extends to the world's 76 poorest countries. The G20 officials also reiterated their commitment to deploy "available tools" to deal with the health and economic crisis caused by COVID-19.

Source: Daily Nation April 15, 2020 16:41 UTC