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Some big creditor countries, including China, also failed to include all state-owned institutions, such as the China Development Bank, in responding to requests for debt relief. The COVID-19 crisis has exacerbated concerns about high debt levels affecting not just low-income countries, but some middle-income states as well. International Monetary Fund Managing Director Kristalina Georgieva called for prompt and effective implementation of the debt treatment framework to provide permanent debt relief to the poorest countries, but said other countries also needed help. He said the G20 initiative also left out countries that needed urgent help. “Six of the 12 countries with the highest COVID death rates are middle-income countries, which remain outside the scope of the G20 debt process,” he said.
Persons: Nael, Kristalina Georgieva, , Georgieva, Eric LeCompte, Organizations: Saudi Arabia's UNESCO, Heritage, REUTERS, China Development Bank, Monetary Fund, Jubilee USA, United Locations: DUBAI, WASHINGTON, Diriyah, Saudi Arabia, China, United States
FILE PHOTO: Family Photo composite for the annual G20 Leaders' Summit is projected onto Salwa Palace in At-Turaif, one of the country's UNESCO World Heritage sites, in Diriyah, Saudi Arabia, November 20, 2020. Saudi G20 Presidency Media/Handout via REUTERSDUBAI (Reuters) - Leaders of the world’s 20 biggest economies said in a final communique on Sunday they were determined to support African countries in overcoming the coronavirus crisis, including by exploring more sustainable financing options. Debt relief for Africa will be an important theme of the Italian presidency of the G20 in 2021. The G20 group also said tackling climate change was a pressing challenge and that it was committed to a more environmentally sustainable future.
Organizations: UNESCO, Heritage, Saudi, REUTERS DUBAI, Reuters Locations: Diriyah, Saudi Arabia, Africa
Family Photo composite for the annual G20 Leaders' Summit is projected onto Salwa Palace in At-Turaif, one of the country's UNESCO World Heritage sites, in Diriyah, Saudi Arabia, November 20, 2020. Saudi G20 Presidency Media/Handout via REUTERS“We will spare no effort to ensure their affordable and equitable access for all people, consistent with members’ commitments to incentivize innovation,” the leaders said in the draft G20 statement, seen by Reuters. Trump, who favored bilateral deals, has reduced support for multilateral institutions like the World Trade Organization, and this year threatened to quit the World Health Organization unless it was reformed. We strive to realize the goal of a free, fair, inclusive, non-discriminatory, transparent, predictable, and stable trade and investment environment, and to keep our markets open,” the G20 statement said. The imminent change of guard in the White House also seemed to unblock bolder G20 language on climate change.
Persons: , , Keen, Democrat Joe Biden, Donald Trump, Trump Organizations: WASHINGTON, UNESCO, Heritage, Saudi, REUTERS, Reuters, European, COVID, Democrat, World Health Organization, World Trade Organization, Google, Facebook, Apple, Microsoft Locations: Diriyah, Saudi Arabia, Africa
G20 to discuss post-pandemic world, back debt relief
  + stars: | 2020-11-21 | by ( Jan Strupczewski | ) www.reuters.com + 0.00   time to read: +4 min
"Family Photo" for annual G20 Summit World Leaders is projected onto Salwa Palace in At-Turaif, one of Saudi Arabia?s UNESCO World Heritage sites, in Diriyah, Saudi Arabia, November 20, 2020. Debt relief for Africa will be a main theme of the Italian presidency of the G20 in 2021. The change of U.S. leadership also raises hopes of a more concerted effort at G20 level to fight climate change. Under Trump, the United States pulled out of the Paris Agreement on fighting climate change, but the decision is likely to be reversed by President-elect Joe Biden. To help finance the fight again climate change the EU will push for the G20 to agree common global standards on what constitutes “green” investment.
Persons: , Charles Michel, Antonio Guterres, ” Michel, Donald Trump, Joe Biden, , Ursula von der Leyen Organizations: Heritage, REUTERS, European, International Monetary Fund, United Nations, Reuters, World Trade Organisation, European Union, Trump, Paris Agreement, EU Locations: BRUSSELS, Saudi Arabia, Diriyah, pandemics, Africa, Japan, China, South Korea, South Africa, United States, Paris, U.S
G20 leaders seek to help poorest nations in post-COVID world
  + stars: | 2020-11-21 | by ( Raya Jalabi | Ryan Woo | ) www.reuters.com + 0.00   time to read: +4 min
"Family Photo" for annual G20 Summit World Leaders is projected onto Salwa Palace in At-Turaif, one of Saudi Arabia?s UNESCO World Heritage sites, in Diriyah, Saudi Arabia, November 20, 2020. G20 leaders are concerned that the pandemic might further deepen global divisions between the rich and the poor. To do that, the European Union urged G20 leaders to quickly put more money into a global project for vaccines, tests and therapeutics called Access to COVID-19 Tools (ACT) Accelerator. Extending the temporary debt relief could encourage some additional countries to ask for forbearance, experts say, but private sector creditors must also agree to participate. Debt relief for Africa will be an important theme of the Italian presidency of the G20 in 2021.
Persons: Shyoukhi, King Salman bin Abdulaziz, Emmanuel Macron, Ursula von der Leyen, , Vladimir Putin, ” Xi, Charles Michel, Antonio Guterres, David Malpass Organizations: Reuters, Heritage, REUTERS, Saudi, European Union, ACT, Twitter, International Monetary Fund, United Nations, World Bank Locations: BEIJING, DUBAI, Saudi Arabia, Diriyah, Moscow, China, pandemics, Africa
Wolff v Wolff in Formula EIan James and Toto Wolff at the Mercedes-Benz EQ Formula E Team launch with the teams' drivers Nyck de Vries and Stoffel Vandoorne. Hide Caption 5 of 14 Photos: The 2019/20 Formula E season At 22, Gunther became the youngest Formula E race winner in history. Hide Caption 8 of 14 Photos: The 2019/20 Formula E season BMW's Sims celebrates following his maiden Formula E victory. Photos: Formula E unveils new car design Formula E has unveiled its new car for next season with an eye-catching design that features a number of cosmetic changes. Hide Caption 1 of 10 Photos: Formula E unveils new car design The new design has been christened the Gen2 EVO.
Persons: Toto Wolff, Ian James, Wolff, James, Mercedes, James shuns, Toto, Formula E Ian James, de, Stoffel Vandoorne, Lewis Hamilton, Wolff James, Toto's, Susie, Venturi, It's, Andre Lotterer, Mitch Evans, Lotterer, Maximilian Günther, Gunther, Alexander Sims, BMW's Sims, Porsche's Neel Jani, Sam Bird, Nico Müller, Pascal Wehrlein, Daniel Abt, Nigel Mansell, Ayrton Senna, Jean Todt, Alejandro Agag, Nico Rosberg, I've Organizations: CNN, Formula E, Briton, Mercedes, E, Formula, Benz, Mexico City, Panasonic, BMW, Andretti Motorsport, Prix Antofagasta Minerals, ABB FIA Formula E, Silverstone, Prix, McLaren, FIA, Geneva, Chile, Saudi Arabia, McLaren, FIA Locations: Riyadh, de Vries, Australia, Mexico, Santiago, Chile, Saudi Arabia, Diriyah, Switzerland, Australia, Diriyah
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