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Bank of Italy’s Visco sees more debt relief for poor countries

FILE PHOTO: Bank of Italy Governor Ignazio Visco presents Bank of Italy's annual report in Rome

ROME (Reuters) – International institutions will come up with more debt relief initiatives for poor countries, the central bank governor of Italy, which holds the annual presidency of the G20, said on Tuesday.

Last week the Group of 20 biggest economies extended a debt-servicing freeze for developing nations but fell short of any new initiatives to actually cut their debt load in the face of the COVID-19 pandemic.

“I am sure more initiatives will take place,” Ignazio Visco told CNN in an interview when asked whether there was room for additional help.

Visco added that it was important to also involve private sector creditors in future debt relief measures.

(Reporting By Gavin Jones, editing by Crispian Balmer)

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