Nigeria, others to benefit from $14b debt relief
The relief is coming under the Debt Service Suspension Initiative , which has received 36 applications in the first month of implementation.
The purpose of the extraordinary virtual meeting was “to have a proactive, collective assessment of the first weeks of implementation of the DSSI and further discuss any outstanding concerns”. This, he noted, “would help vulnerable countries strengthen their fight against the pandemic. This amount could increase significantly if additional creditors, including multilateral development banks and private sector creditors, join the initiative.”
Nigeria was among 76 countries that was granted debt relief by G20 countries at the end of their meeting in Saudi Arabia on April 15th, 2020.
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