China freezes debt payments for 77 nations after G-20 deal
![](https://cdn.classfmonline.com/imagelib/thumbs/49569102.jpg)
The Chinese government has said it has agreed to delay debt repayments for low-income countries, as part of the Group of 20 nations debt relief programme.
The country has suspended debt repayments from 77 developing countries and regions, Ma Zhaoxu, Vice Minister of Foreign Affairs, said at a State Council briefing Sunday in Beijing.
In April, the G-20 agreed to provide temporary debt relief to the world’s poorest nations, with the moratorium starting May 1.
In addition to the debt holiday, China has pledged to provide $2 billion to help other countries respond to the impact of the coronavirus pandemic, including $50 million donated to the World Health Organization, Ma said.
Ma did not provide any details on the terms of the debt relief.
Source: Bloomberg
Trending Business
Ghana’s economy still bleeding, cost of living remains high – Ato Forson
06:39Mahama's 24-hour economy will revive 'dead' Tema - GFL
19:57Mahama is an advocate for women’s financial empowerment-Opoku-Agyemang
20:00YEA annnouces phase 2 of skills training programme, calls for applications
12:58LUIHF to picket Ministry of Finance on Wednesday over delays in releasing funds
12:32MegaCash Lucky Box poise to offer Ghanaians chance to win millions
15:05Mahama promises cashew factory for Amoma under next NDC Gov't
11:44Gov't set to raise cocoa farmgate price by nearly 45%, sources say
10:58Akufo-Addo should’ve resigned over free fall of Cedi – Mahama
14:23Demand locked-up DKM funds from Bawumia – Mahama to people of Nkoranza
12:44