politics

G20 countries agree on debt freeze for world's poorest countries

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By Davide Barbuscia, Marwa Rashad and Andrea Shalal

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quickly matched by a group of hundreds of private creditors.

Who are these "private creditors" that lend money to countries.

They must be quite wealthy.

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How about freezing debt for everyone?

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So much of this money goes towards the leaders' palaces, armoured limousines, private planes, bodyguards, etc.. Very little seems to end up in the pockets of those who really need it. And in many cases, the lenders know that they'll never get their money back, they are quite happy to keep getting the interest on the loan.

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Who are these "private creditors"

The Federal Reserve and the International Monetary Foundation.

They are all private, not owned by USA's government. They tell the Treasury how many dollars should be printed.

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