It presents a chance to kick off a new phase of reconstruction, steered toward poverty reduction and inclusive, sustainable growth. And it may allow us to refocus our efforts towards meeting the Sustainable Development Goals. Most IDA countries lack the resources necessary to mount an emergency response while maintaining adequate spending on health, education, social safety nets, and job creation.
We welcome the proposal put forth by the WBG and the IMF and endorsed by the G20 for all official bilateral creditors to temporarily suspend debt-service payments from the poorest countries to help them meet their financing needs. We look forward to an effective coordination and broad participation of all major creditors, to ensure the success of this initiative. 3