Al-Marsad newspaper: Finance Minister Mohammed Al-Jadaan explained that when the “creditor” state reduces the burden of debt on debtor countries, it is not a form of charity.
He said during his participation in the annual meeting of the Monetary Fund and the World Bank that: “Politicians will need to educate their people that what the creditor country grants when it gives relief to a low- or middle-income country does not do so as charity.
He continued: “But in order for the global economy to be in good health and not to leave behind those whose conditions could lead to problems in the global economy.”
He pointed out that during the Corona pandemic, the creditor countries cared about the debtor countries, and they gathered with the International Monetary Fund and the G20 and decided to suspend debt payments, which were about 30 billion dollars for 48 countries.
Suspension of debt payments
He added, but we cannot suspend debt payments forever and it was extended after that, and we wanted there to be another mechanism to deal with these debts and the negotiations came about the joint framework, and the idea of the framework is like repairing airplane engines when passengers are on board and it is about finding a quick solution.
2023-10-12 20:13:10
#charity #Video #Minister #Finance #comments #alleviating #debt #burden #developing #countries
