Washington DC - IMF head, Kristalina Georgieva and World Bank President, David Malpass spoke to the G20 Finance Ministers and Governors this morning on debt relief and using multi-stakeholder processes to relieve debt.
"What's new and exciting about the the comments from Georgieva and Malpass is that they are urging all types of creditors to come together to relieve the debts of the poorest countries.
"Malpass is strongly encouraging commercial creditors to also offer debt relief.
"It's exciting that both the Fund and the World Bank are alluding to a process that will bring together multiple stakeholders.
"Civil society and monitoring mechanisms need to be a part of any coordinating creditor mechanism.
"The devil is still in the details. How will we deal with further debt vulnerabilities and sustainability issues?"
Read Remarks by IMF's Kristalina Georgieva During the G20 Finance Ministers and Central Bank Governors Meeting here
Read World Bank President David Malpass's Remarks to G20 Finance Ministers here
Read about Major Religious Institutions Letter to President, IMF and G20 to Cancel Debts and Use Reserves to Protect Poor here
Read Jubilee USA's March 23rd letter to IMF on a health and economic COVID-19 plan here
Read Jubilee USA's April 1st letter to the IMF on reserve gold funds here