Blog Feeds

Human Rights in Ireland
A Blog About Human Rights

offsite link Human Rights Fri Mar 20, 2020 16:33 | Human Rights

offsite link Turkish President Calls On Greece To Comply With Human Rights on Syrian Refugee Issues Wed Mar 04, 2020 17:58 | Human Rights

offsite link US Holds China To Account For Human Rights Violations Sun Oct 13, 2019 19:12 | Human Rights

offsite link UN Human Rights Council Should Address Human Rights Crisis in Cambodia Sat Aug 31, 2019 13:41 | Human Rights

offsite link Fijian women still face Human Rights violations Mon Aug 26, 2019 18:49 | Human Rights

Human Rights in Ireland >>

Cedar Lounge
"A flaky website that purports to be ?leftist,? The Cedar Lounge Revolution, occasionally makes a relevant point or two."

offsite link A Fianna Fáil mudguard? 09:04 Fri Jul 10, 2020 | WorldbyStorm

offsite link Curious about what ?success? might be in relation to the pandemic? 15:23 Thu Jul 09, 2020 | WorldbyStorm

offsite link Numbers? one of a continuing series 12:25 Thu Jul 09, 2020 | WorldbyStorm

offsite link ?The Old World is Dying and the New World Struggles to be Born.? Call the midwife, Ireland needs a n... 09:00 Thu Jul 09, 2020 | guestposter

offsite link Non-compliant? 12:23 Wed Jul 08, 2020 | WorldbyStorm

Cedar Lounge >>

Dublin Opinion
Life should be full of strangeness, like a rich painting

offsite link Some Thoughts on the Brexit Joint Report 11:50 Sat Dec 09, 2017

offsite link IRISH COMMONWEALTH: TRADE UNIONS AND CIVIL SOCIETY IN THE 21ST CENTURY 14:06 Sat Nov 18, 2017

offsite link Notes for a Book on Money and the Irish State - The Marshall Aid Program 15:10 Sat Apr 02, 2016

offsite link The Financial Crisis:What Have We Learnt? 19:58 Sat Aug 29, 2015

offsite link Money in 35,000 Words or Less 21:34 Sat Aug 22, 2015

Dublin Opinion >>

NAMA Wine Lake

offsite link Test ? 12 November 2018 Mon Nov 12, 2018 14:28 | namawinelake

offsite link Farewell from NWL Sun May 19, 2013 14:00 | namawinelake

offsite link Happy 70th Birthday, Michael Sun May 19, 2013 14:00 | namawinelake

offsite link Of the Week? Sat May 18, 2013 00:02 | namawinelake

offsite link Noonan denies IBRC legal fees loan approval to Paddy McKillen was in breach of E... Fri May 17, 2013 14:23 | namawinelake

NAMA Wine Lake >>

Amidst Covid-19 Spread, IMF and World Bank Signal Debt Relief for Poor Countries

category international | economics and finance | press release author Tuesday March 24, 2020 15:03author by Kate Zeller - Jubilee USA Network Report this post to the editors

Developing Countries Demand Debt Payments Stop

On Monday the heads of the IMF and World Bank stated support for debt relief for very poor countries as the coronavirus spreads. African Finance Ministers called for suspension of debt payments to free up $44 billion to fight Covid-19. Ecuador's Congress also demanded its government stop paying debt.

Washington, DC - On Monday the heads of the IMF and World Bank stated support for debt relief for very poor countries as the coronavirus spreads. African Finance Ministers called for suspension of debt payments to free up $44 billion to fight Covid-19. Ecuador's Congress also demanded its government stop paying debt.

"Countries need to prioritize fighting Covid-19 and billions can be freed up right away by halting debt payments," stated Eric LeCompte who leads the development group Jubilee USA and serves on United Nations debt expert groups. "Both among lenders and borrowers, we see growing calls to stop paying debt to save lives during the pandemic."

At G20 Finance Minister and Central Bank meetings on Monday, World Bank President David Malpass encouraged world leaders to allow very poor countries to stop paying debt. At the same meeting, the IMF's leader, Kristalina Georgieva noted the replenishing of funds in an IMF debt relief and aid mechanism that was used during the 2014 Ebola epidemic that struck 3 African countries.

"The IMF and World Bank calls for debt relief are critical in order to immediately strengthen health systems in the developing world," stated LeCompte. "In order to support all countries who need help and stop a global financial crisis we will need to broaden debt relief efforts, raise aid monies and move forward agreements that can stabilize the economy."

The leaders of LeCompte's organization, Jubilee USA, sent a letter to the head of the International Monetary Fund on Monday to take action to stop negative economic impacts of the Covid-19 virus.

The letter urges expanded debt relief and aid to bolster health-care for developing countries impacted by the coronavirus. Additional letter recommendations include debt payment moratoriums, improved debt restructuring, encouraging public budget approval processes for countries and raising revenue by curbing corruption, tax evasion and tax avoidance.

Related Link: http://www.jubileeusa.org
© 2001-2020 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy