By Andrea Shalal ROME (Reuters) - World Bank President David Malpass on Saturday called on leaders of the Group of 20 rich nations to speed up work on debt restructuring for low-income countries, including a freeze on debt payments and mandatory participation of private creditors. Malpass told G20 leaders meeting in Rome that progress on dealing with the debt of the poorest countries has stalled and urgent efforts are needed to jumpstart the process. G20 leaders pledged to step up their efforts to implement the Common Framework on Debt Treatments and stressed the importance of private-sector participation, but failed to include any language on a new debt standstill, according to the text of their communique, which was seen by Reuters. Several countries including China - the world s biggest creditor, accounting for 65% of official bilateral debt - have opposed a new freeze in debt service payments. Malpass, who this month called for adding a freeze in debt-service payments to the Common
By Jan Strupczewski and Gavin Jones ROME (Reuters) -Leaders of the Group of 20 major economies will say they aim to cap global warming at the 1.5 degrees Celsius level scientists say is vital to avoid disaster, but will largely avoid firm commitments, according to a draft statement seen by Reuters. The joint statement on the need for climate action reflects tough negotiations among diplomats as the leaders gathered for a two-day summit in Rome, but the draft details few concrete actions to limit carbon emissions. We remain committed to the (2015) Paris Agreement goal to hold the global average temperature increase well below 2°C and to pursue efforts to limit it to 1.5°C above pre-industrial levels, the draft says. The statement also says the leaders recognised the key relevance of achieving net zero carbon emissions by the middle of this century. This is a goal that United Nations experts say is needed to achieve the 1.5 degree cap on warming, but some of the world s biggest pollute
By Angelo Amante ROME (Reuters) - Thousands of people marched in Rome on Saturday during the summit of the leaders of the Group of 20 major economies, calling on them to act against climate change and ensure fair access to COVID-19 vaccines. Climate activists led the march, carrying colourful placards, playing drums and dancing as they demanded world leaders save the planet. We are holding this protest for environmental and social issues and against the G20, which continues undaunted on a path that has almost led us to social and ecological failure, said protester Edoardo Mentrasti. They marched alongside students and groups of workers in a city on high security alert, with up to 6,000 police and about 500 soldiers deployed to maintain order. Metro stations have been closed and bus routes diverted due to the G20 summit. Italian police are particularly anxious about unrest after recent protests over the country s mandatory COVID health pass for workers turned violent when neo-fascist ac
By Jason Lange WASHINGTON (Reuters) - U.S. President Joe Biden met with German Chancellor Angela Merkel and discussed efforts to keep Russia from manipulating natural gas flows with political aims in mind, the White House said on Saturday. Biden, who is in Rome for a meeting of leaders from the Group of 20 nations, underscored that it was important to ensure that Russia cannot manipulate natural gas flows for harmful political purposes, the White House said, adding that Biden and Merkel also discussed the situation in Afghanistan. Earlier on Saturday, data from a German pipeline operator showed Russian natural gas flows into Europe had come to a halt https://www.reuters.com/business/energy/russian-westbound-gas-flow-via-yamal-europe-pipeline-stops-data-shows-2021-10-30 in a part of the Yamal-Europe pipeline that brings gas into Germany via Poland. Russia sends gas to western Europe by several different routes, including the Yamal-Europe pipeline, which has an annual capacity of up to 3
By Michel Rose and Jeff Mason ROME (Reuters) -The United States, Germany, France and Britain urged Iran on Saturday to resume compliance with a 2015 nuclear deal in order to avoid a dangerous escalation . Leaders of the four countries, who are hoping to persuade Tehran to stop enriching uranium to near-weapons-grade levels, said they wanted a negotiated solution. This will only be possible if Iran changes course, U.S. President Joe Biden, German Chancellor Angela Merkel, French President Emmanuel Macron and British Prime Minister Boris Johnson said in a joint statement. We call upon President (Ebrahim) Raisi to seize this opportunity and return to a good faith effort to conclude our negotiations as a matter of urgency. That is the only sure way to avoid a dangerous escalation, which is not in any country s interest, they said after meeting on the sidelines of a summit of the Group of 20 richest nations. The 2015 nuclear deal unravelled after then-U.S. President Trump withdrew from it i