The G20 approves the “common framework” on debt cancellation

The G20 has reached agreement on a common framework to extend more generous debt relief to countries that struggle most with Covid-19.

After a summit on November 22, leaders approved the “Common Framework for Debt Treatments Beyond the DSSI,” which will allow bilateral debt cancellation that goes beyond the debt service suspension initiative.

International Monetary Fund Chief Kristalina Georgieva Says Deal Could Help Countries Address Unsustainable Debts Through Permanent Debt Cancellation