Pay Later: G20 Extends Debt Relief for Developing Countries

Oxfam and other groups are also calling for private lenders and investment funds to make similar concessions for the poorest countries by suspending their debt repayments.

The G20, in a final communique, also urged private lenders to join its initiative for debt suspension during the coronavirus pandemic.

“We are disappointed by the absence of progress of private creditors’ participation” in the debt relief, “and strongly encourage them to participate on comparable terms when requested by eligible countries,” it said.

(Writers: Martin Crutsinger, Aya Batrawy)

Source: https://apnews.com/article/virus-outbreak-david-malpass-g-20-summit-united-states-074bab3f519c0cf2922bd7de2c20422c