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G-20 Suspends Debt Payments for some Countries.

 

G-20 or the group of 20 nations has suspended payments for poor or not so well of countries. The suspension of payments has been extended to another 6 month period. This has been done in order to support the countries that need support to fight the global pandemic. the pandemic has been caused by a coronavirus which is popularly referred to as the COVID-19. The virus is said to have developed in China and has now spread across hundreds of countries. While most countries are battling the virus some countries are having a tougher time than the other ones due to their pre-existing economic conditions. The suspension of the payments of over 14 billion dollars was set to be extended by the end of the year. However, looking at the situation worsening the G-20 decided to allow the extension of the debts to another 6 months.

This has been done in view to ensure that these countries have sufficient resources to tackle the virus. This will allow the countries some help and more breathing air. All countries included in the list are either one who are not very economically strong or have been very severely hit by the virus which has led to their economic condition not being good at all.

 

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