The Financial Times reported about the Statement of 23 former Central Bank Governors and former Finance ministers in favour of Debt Relief for a Green and Inclusive Recovery.
Jonathan Wheatley reports in the FT Blog:
Former finance ministers and central bank governors have called on the G20 and the IMF to step up their support for poor countries battling the economic impacts of the coronavirus pandemic.
A group of 22* former officials from countries including Germany, India, Brazil, South Africa and Ireland have asked the G20 to launch an initiative to deliver bilateral, multilateral and private sector debt relief “on a grand scale analogous to the Highly Indebted Poor Countries Initiative”. (…)
The group called on the IMF to make a “substantial” allocation of its special drawing rights, a form of reserve asset that countries can sell for cash.
* The total number of signatories is now 23, one signature came in after the FT was informed about the initiative.