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G20 reaffirms commitment to debt relief, asks private sector to help

Reuters
Updated ·1-min read

DUBAI, Nov 22 (Reuters) - Leaders of the world's 20 biggest economies said on Sunday they endorsed a plan to extend a freeze in debt service payments by the poorest countries to mid-2021 and endorse a common approach for dealing with debt problems beyond that, according to their final summit communique.

They also said they strongly encouraged private creditors to participate in the initiative on comparable terms when requested by eligible countries.

The G20 debt relief initiative has helped 46 countries defer $5.7 billion in 2020 debt service payments. (Reporting By Davide Barbuscia; Editing by Kevin Liffey)