Weaker countries call for public debt relief - Plataforma Media

Weaker countries call for public debt relief

The group of the 20 most fragile countries (G7 +) defended this Thursday the relief of the public debts of its members through the exemption of interest as a measure of support to the efforts to combat the pandemic of covid-19.

“We support the call for debt relief in these countries through exemption from interest payments and the recourse to mechanisms in heavily indebted poor countries (PPTE) because lasting peace and stability in conflict countries is the key to world peace and prosperity. “, says in a statement, the G7 +, whose headquarters are in Dili, the capital of Timor-Leste.

In this regard, the group called on development partners to provide “sufficient resources to support the most fragile countries in their efforts to contain the spread of the new coronavirus and to recover from its impact”.

For this organization, which brings together 20 of the world’s most fragile states, social detachment and confinement will be “very difficult to maintain” due to the lack of economic safety nets, underdeveloped infrastructure and the daily need for citizens to survive, particularly in the areas conflict.

“Stuck least developed countries, which depend on uninterrupted goods transit, will be particularly affected by border closures” points out the G7 +.

Therefore, it asks donors to “respond to the needs of these countries by investing in food security, regional cooperation, technological innovation and alternative sources of financing”.

The G7 + is comprised of 20 of the world’s most fragile states, countries that have either been affected by conflict or are in the process of transition.

Most of the organization’s member states are located in Africa and Asia, including Lusophone Guinea-Bissau, São Tomé and Príncipe and Timor-Leste.

The organization also called for increased support from humanitarian and development organizations to health systems in the countries of these countries.

“Covid-19 is being a hard test for health systems around the world and public health systems in fragile and conflict-affected countries are already conditioned by the lack of basic and personal equipment,” says the G7 +, maintaining that if the pandemic is not stopped it will “sink public health systems” in these states.

The organization also underlines the impact of border closures on the populations of refugees and displaced persons, calling on governments and international organizations to take into account their needs and security.

The covid-19 pandemic has already claimed more than 181,000 deaths and infected more than 2.6 million people worldwide.

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