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Tuesday, 24 November 2020

Debt relief for poorest countries could extend beyond year-end: G7

Reuters , Wednesday 3 Jun 2020
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Views: 966

Finance ministers from the Group of Seven advanced economies on Wednesday said they were committed to implementing official bilateral debt relief for the world's poorest countries through year-end and possibly longer.

In a joint statement, the G7 finance ministers also called for increased efforts to strengthen reporting of public debt data, and called on creditors to make responsible lending decisions in line with debt sustainability guidelines.

In an apparent reference to practices reportedly used by China, the ministers also said creditors should fully disclose terms of public debt and limit use of confidentiality clauses.

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