Coronavirus: Ease debt burden of low and middle-income countries: World Bank | The Business Standard
Skip to main content
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
The Business Standard

Thursday
December 07, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Banking
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Food
    • Habitat
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wheels
  • Epaper
    • GOVT. Ad
  • More
    • Subscribe
    • Videos
    • TBS Graduates
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Long Read
    • Interviews
    • Offbeat
    • Tech
    • Magazine
  • বাংলা
THURSDAY, DECEMBER 07, 2023
Ease debt burden of low and middle-income countries: World Bank

Global Economy

TBS Report
18 April, 2020, 11:10 am
Last modified: 18 April, 2020, 04:07 pm

Related News

  • World Bank's Banga calls for record replenishment of fund for poorest countries
  • $1.08 billion could be added to Bangladesh's dwindling forex reserves
  • Bangladesh to ask WB for $250m more in budget support
  • World Bank, ADB support for Rohingyas must be as grant, not loan: TIB
  • World Bank focuses on securitisation to scale climate finance

Ease debt burden of low and middle-income countries: World Bank

David Malpass said the World Bank has financed COVID-19 programmes in 64 developing countries, and it will cover 100 countries by the end of April

TBS Report
18 April, 2020, 11:10 am
Last modified: 18 April, 2020, 04:07 pm
File Photo: World Bank President David Malpass responds to a question from a reporter during an opening press conference at the IMF and World Bank's 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, US, October 17, 2019/ Reuters
File Photo: World Bank President David Malpass responds to a question from a reporter during an opening press conference at the IMF and World Bank's 2019 Annual Fall Meetings of finance ministers and bank governors, in Washington, US, October 17, 2019/ Reuters

The World Bank's Development Committee has asked the International Monetary Fund (IMF) and other development agencies to ease the debt burden of low and middle-income countries that have been affected by the COVID-19 pandemic.

David R Malpass, president of the World Bank Group, at a press briefing after a meeting of the Development Committee, said, "The bank should also further explore suspension of debt payments for the world's poorest countries."

He said, "The world bank emphasises health, agriculture and food security to fight COVID-19."

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The session was arranged as part of the spring meeting of the World Bank and the IMF, which was held virtually due to the impact of COVID-19.

Several programmes of the meeting started on April 13, but the final round of the meeting started officially on Friday, and is scheduled to conclude on April 19.

David R Malpass said the life of people is the first priority, then the issue of food. It is important to ensure sustainable agricultural production to maintain a global chain.

He also said, "Supply chain of food and agricultural product is now at threat. The World Bank will help to provide food for poor people, and for the people who have lost their jobs. The World Bank will welcome any idea and initiatives from governments in this regard."

He also committed to back World Bank's member countries with all types of required support.

He warned of a major global recession, beyond the health impacts from the COVID-19 pandemic, which will lead to a much deeper global downturn than the Great Recession. 

"This crisis will likely hit the poorest and most vulnerable countries the hardest. IDA countries, which are home to two-thirds of the world's extreme poor, will be severely affected," said the president.

He said the World Bank has financed COVID-19 programmes in 64 developing countries, and it will cover 100 countries by the end of April.

He also said the World Bank Group could provide $160 billion over the next 15 months, while IDA, the soft loan window of the agency, will provide $50 billion as a grant or highly concessional credit.

Coronavirus chronicle / World+Biz / Top News

World Bank / World Bank President David Malpass / International Monetary Fund (IMF) / IMF / Global Pandemic / Coronavirus Pandemic / fighting coronavirus

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Deepening dollar crisis: Unveiling causes and solutions
    Deepening dollar crisis: Unveiling causes and solutions
  • Current account surplus drops by 80% in one month
    Current account surplus drops by 80% in one month
  • EC publishes full list of 96 local election observers with 29 new names
    EC publishes full list of 96 local election observers with 29 new names

MOST VIEWED

  • This file photo from December 2019 shows a rider driving his motorcycle through cold wind and fog. A scene not yet visible this year. Photo: Mumit M
    Woe for seasonal crops, vegetables as winter comes late 
  • Caption: Illustration: TBS
    Source tax on land registration cut again
  • File Photo: Reuters
    $1.08 billion could be added to Bangladesh's dwindling forex reserves
  • Photo: Courtesy
    Woman entrepreneur Sangeeta Khan dies at age 62
  • 59 DSE stocks face downgrade to junk category
    59 DSE stocks face downgrade to junk category
  • Dollar pressure rises as short-term foreign debt drops $300m in October
    Dollar pressure rises as short-term foreign debt drops $300m in October

Related News

  • World Bank's Banga calls for record replenishment of fund for poorest countries
  • $1.08 billion could be added to Bangladesh's dwindling forex reserves
  • Bangladesh to ask WB for $250m more in budget support
  • World Bank, ADB support for Rohingyas must be as grant, not loan: TIB
  • World Bank focuses on securitisation to scale climate finance

Features

Sketch: TBS

How Khan Farhana built a 300,000-strong LinkedIn community

6h | Pursuit
Photo: Courtesy

Fostering emotional intelligence and classroom harmony: The power of a complaint box

6h | Pursuit
Photo: Rexy Jason Gomez

A big love for the small wheels

11h | Features
Dhaka’s FDC,  Japan Garden City and Shia Masjid were all part of Gudaraghat once. PHOTOS:  Syed Zakir Hossain

What the remaining Gudaraghats remind us of Dhaka's long-lost water bodies

18h | Panorama

More Videos from TBS

What is 'obstructing the field' out?

What is 'obstructing the field' out?

10h | TBS SPORTS
When Farooki is hero

When Farooki is hero

9h | TBS Entertainment
Most Ukrainians are losing interest in going to war

Most Ukrainians are losing interest in going to war

12h | TBS World
Putin to visit UAE and Saudi Arabia

Putin to visit UAE and Saudi Arabia

14h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net