Indonesia Highlights: G20 Suspends Poor Countries' Debt Payments for Another Six Months | Indonesia Hits Half A Million Covid-19 Cases | Government to Extend Social Cash Transfers until 2021 due to Covid-19

1. G20 Suspends Poor Countries’ Debt Payments for Another Six Months

The G20 Summit in Saudi Arabia agreed to extend the suspension of debt payments for another six months to June 2021 for countries eligible under the Debt Service Suspension Initiative (DSSI), said Indonesian Finance Minister Sri Mulyani Indrawati on Sunday.

The DSSI initially suspended debt service payments from May 1 2020 until the end of the year to boost the resiliency of poor countries hit by the pandemic.

“The goal is for low-income countries to have sufficient fiscal space to handle the Covid-19 pandemic,” Sri Mulyani told a press conference after attending the G20 Riyadh Summit on November 22.

She said that the DSSI discussion was also supported by multilateral institutions such as the International Monetary Fund (IMF) and the World Bank.

Source: https://go.kompas.com/read/2020/11/23/192953974/g20-suspends-poor-countries-debt-payments-for-another-six-months.