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Finance officials from the Group of 20 major economies agreed on Wednesday to suspend debt service payments for the world's poorest countries through the end of the year, a move quickly matched by a group of hundreds of private creditors.
The actions to freeze both principal repayments and interest payments will free up more than $20 billion for the countries to spend on improving their health systems and fighting the coronavirus pandemic, Saudi Finance Minister Mohammed al-Jadaan told reporters after a virtual meeting of G20 finance officials.
Saudi Arabia is hosting the G20 meetings this year. Wednesday's video conference meeting
