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Commonwealth finance ministers call for major international groups to extend financial aid to vulnerable nations

Commonwealth finance ministers, including those from the Caribbean on Wednesday called for the G20, Paris Club, World Bank and International Monetary Fund to extend financial support to vulnerable nations given the deep and widespread economic impact of the COVID-19 pandemic.
 
In a joint statement, the 54 member countries of the Commonwealth said they were also calling for action to support more vulnerable nations on improved access to financing and debt sustainability.
 
The finance ministers said the economic impact of the pandemic has seen countries around the world implement much needed fiscal stimulus packages to address the emerging health and economic crises.
 
As a result, it is expected that Commonwealth nations' debt levels will rise significantly.


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