World Bank, IMF Call For Suspension Of Debt Payment By Developing Nations.

World Bank, IMF Call For Suspension Of Debt Payment By Developing Nations

The World Bank and the IMF said it is imperative to provide a global sense of relief.

Washington:

The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world's poorest nations so they can battle the coronavirus pandemic.

"The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets," the Washington-based development lenders said in a joint statement.

The move is directed at countries that qualify for the most generous aid from the "IDA" fund aimed at the "two-thirds of the world's population living in extreme poverty."

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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