Mali is the first African nation to secure a moratorium in debt payments from the Paris Club of creditor nations, a French finance ministry source said on Tuesday.
Last month, G20 and Paris Club creditor nations agreed to waive most debt payments for the world’s poorest countries in 2020 as a result of the coronavirus crisis.
“We already have four countries that have signed a moratorium with the Paris Club,” a ministry source said.In all, 77 countries with combined debt of $36 billion are eligible for the moratorium this year.The lockdowns imposed by many countries have upturned the global economy, putting severe strains on government revenues just as many nations need to step up health spending to combat the virus.
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