G20: 36 of 77 eligible countries have applied for suspension of official bilateral debt payments – Reuters

As per the latest statement from the Group of 20 major economies (G20), published early Friday morning in Asia, 36 of 77 eligible countries have applied for suspension of official bilateral debt payments, per Reuters.

Key quotes

Saudi G20 secretariat said the debt relief initiative approved in April could provide immediate liquidity of $14 billion as more countries participated and that amount could increase significantly if additional creditors, including multilateral development banks and private-sector creditors, joined the initiative.

FX implications

This suggests another boost for the global equities that have recently started cheering hopes of further monetary easing provided by the central bankers from the US, the UK and Europe.