China suspends debt service for poorer countries - Plataforma Media

China suspends debt service for poorer countries

China today announced the suspension of the debt service of developing countries, for a total amount of US $ 2,100 million (1,766 million euros), as part of the G20 country group initiative.

China’s Finance Minister Liu Kun said in a statement that the China International Development Cooperation Agency and the China Export and Import Bank have suspended payments from 23 countries, amounting to $ 1,353 million ($ 1,138 million) euros).

To that amount are added other payments, for a total amount of 748 million dollars (629.4 million euros), which the Development Bank of China froze, until September this year, added Liu.

Liu said that China “is willing to increase financial aid to developing countries, provide support to those most affected by the coronavirus pandemic and prioritize providing the vaccine to the most disadvantaged economies.”

In April of this year, the G20 approved the temporary suspension of the debt service of the poorest countries, until the end of 2020, a measure that extended in October for another six months.

This article is available in: Português

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