G20 nations agree on extension of Debt Service Suspension Initiative by six months

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NEW YORK: G20 group of nations has agreed on a final extension of the Debt Service Suspension Initiative by six months till the end of December this year in order to help the poorest countries to combat the COVID-19 pandemic.

This was announced in a communiqué after the virtual meeting of G20 Finance Ministers and Central Bank governors with the IMF and the World Bank.

This extension will allow beneficiary countries to mobilize more resources to face the challenges of the crisis due to Coronavirus pandemic.