About: http://data.cimple.eu/news-article/68f04dd17c49155a1aa590601f871aeeb788d3383899e1a713372ba1

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About: http://data.cimple.eu/news-article/68f04dd17c49155a1aa590601f871aeeb788d3383899e1a713372ba1 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	French Finance Minister Bruno Le Maire on Thursday called for a $500-billion war chest and a debt moratorium for developing countries, especially in Africa, to help them cope with the coronavirus crisis. The world's poorest continent is far behind other regions in terms of confirmed cases and deaths but infections are rapidly increasing amid endemic poverty and often threadbare health care. "We have the responsibility of avoiding a drama in developing nations, especially in Africa," Le Maire said, days after urging the G20 group of rich nations to take steps to help poor countries hit by the pandemic. "We support a moratorium in the coming months on the debt of the poorest countries," he told reporters in Paris. Le Maire also said France wanted an increase in special drawing rights (SDRs), the currency of the International Monetary Fund, to over $500 billion (460 billion euros) as well as "a swift new credit line to complement swap lines between central banks to support countries which are most in need." Swap lines are temporary reciprocal currency arrangements between central banks primarily aimed to keep liquidity in the currency available, especially for countries which have debt in US dollars. On March 25, the IMF and World Bank urged a freeze on debt repayments "to provide a global sense of relief for developing countries as well as a strong signal to financial markets." Nearly 6,500 cases of coronavirus have been recorded across all of Africa, 238 of them fatal, according to an AFP toll. South Africa is the worst-hit country on the continent with more than 1,400 cases, including five deaths. arz/ach/ri
schema:headline	France urges debt freeze for poor countries hit by pandemic
schema:mentions	Endemism Bruno Le Maire Finance minister Agence France-Presse International Monetary Fund World Bank G20 Currency Poverty Africa Paris South Africa Pandemic France Coronavirus Debt of developing countries Special drawing rights Debt moratorium Hoover Moratorium Market liquidity
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-02 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	86 (xsd:integer)

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