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No deal on poor countries' debt at G20 summit in Saudi Arabia

22/11/2020
Source : cridem.org
Categories: Economy/Forex

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G20 leaders on Sunday promised "to implement" a debt service suspension initiative (ISSD/DSSI) already adopted, which allows poor countries to suspend interest payments on their debt until June 2021.

But while the United Nations hoped that this deadline would be extended until the end of 2021, the G20 is deferring to its finance ministers to "examine" this issue next spring.

The major powers, which have already spent some $11 trillion to save the global economy, also say they are "determined to continue using all available instruments" to support an "uneven" and "very uncertain" recovery.
 

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