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G20 Announces Debt Relief Process
international | economics and finance | news report Friday November 13, 2020 14:20 by Zachary Conti - Jubilee USA Network
G20 finance ministers held an extraordinary meeting and announced further plans on debt reduction for developing countries affected by the COVID-19 economic crisis.
“The G20 created a process that includes all creditors, including the private sector, in debt relief plans for the poorest countries,” said Eric LeCompte, Executive Director of the religious development organization Jubilee USA and a United Nations finance expert. “Unfortunately, developing middle-income countries are excluded from this process as they face some of the highest poverty increases because of the coronavirus crisis."