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G20 Wraps Up Summit With Lots of Promises But Very Little Concrete Action on Debt Relief

by Eric Olander

Debt relief for the world’s poorest countries was high on the agenda at this weekend’s Group of 20 summit organized by Saudi Arabia. The conference ended on Sunday with what’s become standard promises to expand its Debt Service Suspension Initiative (DSSI) and calls on private creditors to provide more debt relief to the world’s poorest countries.

One notable change came with the endorsement of a plan to move beyond the DSSI, via a so-called “common framework.” In their final communiqué, the G20 said: “We endorse the “Common Framework for Debt Treatments beyond the DSSI”, which is also endorsed by the Paris
Club.”

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