WASHINGTON, April (Pakistan Point News - 15th Apr, 2020) World Bank Group President David Malpass and IMF Managing Director Kristalina Georgieva have welcomed the decision of the G20 group of leading economies to suspend repayment of official bilateral credit of the poor countries.
In a joint statement on the outcome of the G20 finance ministers’ meeting, they said, "We strongly welcome the decision of the G20 to respond to our call to allow the poorest countries of the world that request forbearance to suspend repayment of official bilateral credit on May 1st.
"This is a powerful, fast-acting initiative that will do much to safeguard the lives and livelihoods of millions of the most vulnerable people.
"The World Bank Group and IMF will move quickly to respond to the G20’s request for us to support this action by working closely with these countries in ways that make the best use of this vital lifeline. We championed this debt initiative, and we're committed to taking all possible steps to support the poor."
