Economics

Angola May See Biggest Win in $12 Billion G-20 Debt-Relief Plan

Nation could see $3.7 billion in savings, World Bank says
G20 in April agreed to give help to more than 70 poor nations

A person sits on the shoreline of the Bay of Luanda in Luanda, Angola. — A person sits on the shoreline of the Bay of Luanda in Luanda, Angola.
Photographer: Simon Dawson/Bloomberg

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By Matthew Hill and Eric Martin

June 19, 2020 at 5:14 PM UTC

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Angola is set to be the biggest beneficiary of a plan by the Group of 20 to temporarily suspend debt payments by the world’s poorest nations.

The southern African nation could see $3.4 billion of potential savings, or about 28% of the total $12 billion estimated by the International Monetary Fund and the World Bank, the latter Washington-based lender said on its website Friday.