Is It Possible to Offer Limited Debt Relief to a Poorer Nation?

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Ben Parkin is the FT's South Asia correspondent. The G20 created a mechanism for creditors to offer limited debt relief to countries so that they could free up resources to fight COVID. Ben: Is it fair now to ask a country like Pakistan to pay billions of dollars in debt to wealthier nations who are not facing natural catastrophes? It's a story that's going to play out in countries around the world.

Several EU member states are pushing for hard-hitting measures against Russia and a UN policy memorandum argues Pakistan should suspend international debt repayments. Plus, the FT’s Katie Martin explains why the Bank of Japan would keep interest rates in negative territory and prop up the yen.

Mentioned in this podcast:

Poland and Baltic states push for harsher EU sanctions against Russia

Flood-hit Pakistan should suspend debt repayments, says UN policy paper

Japan intervenes to prop up yen for first time since 1998

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The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

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