Quick Summary
Union Minister for Finance Corporate Affairs Smt. Nirmala Sitharaman participated in the G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Saudi Arabian Presidency here today through video conferencing. Ministers and Governors of G20 countries had gathered to discuss the current global economic outlook and G20s response to the COVID-19 pandemic, along with other G20 Finance Track priorities for the year 2020. In the first session, the Finance Minister spoke on up
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FAQ :
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman participated in the meeting through video conferencing.
The meeting focused on discussing the current global economic outlook and the G20's response to the COVID-19 pandemic, along with other Finance Track priorities for 2020.
The DSSI is a key outcome of the G20 Action Plan that provides a time-bound suspension of debt service payments for low-income countries requesting forbearance.
Yes, the G20 Finance Ministers and Central Bank Governors agreed to extend the DSSI by 6 months due to continued liquidity pressures.
Smt. Sitharaman observed that a more structural treatment of debt is required in the longer term, guided by the objective of helping countries overcome fiscal stress caused by the pandemic.
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