Mexico City /
President Andrés Manuel López Obrador called on the leaders of the G20 to apply the principle of “world brotherhood” and eliminate the amount of debt and payment of its service to the poorest nations of the world, in order to face the global economic crisis due to the pandemic because of covid 19.
On his second day of participation in the virtual meeting of Heads of State of the 20 most powerful economies in the world, the President proposed to ensure that middle-income countries can have access to credit with interest rates equivalent to those in force in countries developed.
“I am sure that cooperation and mutual aid will allow all nations to overcome this painful period. I hope that we will be able to leave in history an example of how to deal with a global health threat and a serious economic crisis ”, he said.
The president stated that, despite the economic crisis that precipitated the pandemic, the income of the country’s public finances has decreased only 2 percent compared to last year ”. However, he accepted that growth slowed at an unprecedented rate in the last 90 years.
“Although we did not contract additional debt, the consequent loss of wealth raised our country’s public debt, from 44.8 to 51.1 of the national gross domestic product”
López Obrador said that thanks to austerity measures and the fight against corruption, Mexico did not have to resort to new loans, and all the resources released were allocated directly, without intermediaries, giving preference to the poor and to members of the middle classes.
“This strategy coincided with the miracle of the increase in remittances sent from the United States of America by our migrant countrymen. This year, despite the pandemic, they will reach a record sum of 40 billion dollars, money that benefits 10 million families ”.
Our second speech at the G20 Virtual Summit of Leaders was about the economic crisis and the alternatives for Mexico and the world. pic.twitter.com/onSG9hyUYB
– Andrés Manuel (@lopezobrador_) November 22, 2020
*The article has been translated based on the content of Source link by https://www.milenio.com/politica/pandemia-amlo-propone-g20-eliminar-deuda-paises-pobres
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