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Coronavirus: Groups urge G20 to extend, expand debt freeze for poorer countries

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G20 health ministers to discuss coronavirus impact via video conference next week Top global finance officials last week said debt restructuring may be needed on a country-by-country basis to help heavily indebted countries hit hard by the outbreak.So far, 41 countries have applied for relief from debt servicing under the G20 Debt Service Suspension Initiative (DSSI), and the Paris Club has signed agreements with 20 countries ranging from Ivory Coast to Ethiopia and Pakistan.But many countries not eligible for the moratorium are also at risk of debt distress given the shocks caused by the novel coronavirus outbreak, the group said.They urged the major economies to boost contributions to enable the International Monetary Fund to continue.

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