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G20 Suspends Debt Repayments For Another Six Months

by Eric Olander

The G20 is providing developing countries with yet more breathing room to repay their debts. G20 finance ministers and central bank chiefs met yesterday and announced that it would extend the Debt Service Suspension Initiative by another six months from June through December.

46 out of 73 eligible countries have so far taken part in the DSSI. The initiative has so far allowed those states to defer an estimated $12.5 billion of debts to bilateral creditors, including more than two billion dollars to China alone.

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