IMF, World Bank call for suspension of debt payments by poorest nations
Washington: The International Monetary Fund and World Bank on Wednesday called for governments to put a hold on debt payments from the world's poorest nations so they can battle the coronavirus pandemic.
"The World Bank Group and the IMF believe it is imperative at this moment to provide a global sense of relief for developing countries as well as a strong signal to financial markets," the Washington-based development lenders said in a joint statement.
The move is directed at countries that qualify for the most generous aid from the "IDA" fund aimed at the "two-thirds of the world's population living in extreme poverty.
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India reviews fuel supplies amid Middle East tensions
New Delhi (PTI): As military conflict in the Middle East escalates, India's Oil Ministry on Monday said it is continuously monitoring the evolving situation and will take all necessary steps to ensure availability and affordability of key petroleum products in the country.
India imports 88 per cent of its crude oil needs and roughly half of its natural gas requirement. These mostly come via the Strait of Hormuz, which the Iranian authorities have threatened to shut down following attacks by the US and Israel.
Oil Minister Hardeep Singh Puri reviewed the supply situation for crude oil, LPG, and other petroleum products with senior officials from the ministry and public sector companies.
"We are continuously monitoring the evolving situation and all steps will be taken in order to ensure availability and affordability of major petroleum products in the country," the ministry said in a post on X.
