G20 Again Pays Lip Service to Developing World Debt Relief But Still Refuses to Do Anything To Resolve the Crisis

(From L to R) Italian Director General of Treasury Alessandro Rivera, U.S. undersecretary of International affairs department of treasury Andy Baukol, and Britain Director General International Finance Lyndsey Whyte attend the opening of the G20 finance ministers’ meeting in Jakarta on February 17, 2022. BAY ISMOYO / POOL / AFP

Finance ministers and central bank heads from the world’s twenty largest countries wrapped up their latest get-together in Jakarta on Friday without any meaningful progress on the burgeoning debt crisis in developing countries. 

Instead, everyone seemingly blamed everyone else for not doing enough.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Eric Olander

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
4
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors
5 Trump’s Contradictory Iran Strategy Leaves U.S. Weaker After War’s End, Says Chinese Commentator
6
Thailand in Last-Minute U.S. Talks as 36% Tariff Looms

You Might Like

With an Eye on China, G7 Finance Ministers Call on G20 Bilateral Creditors to Keep Their Debt Freeze Promises

U.S. Treasury Secretary Steven Mnuchin hosted a teleconference with his fellow finance ministers from the Group of Seven rich countries on Monday and the burgeoning debt crisis in the world’s poorest countries was ...

India Adds to Mounting Pressure on China to Resolve Debt Relief Impasse With IMF, World Bank

The Indian government called on China to stop blocking the debt restructuring process for the world’s poorest countries, adding to the pressure on Beijing ahead of a critical meeting with the World Bank ...

IMF Considers Circumventing China for Sri Lanka’s Emergency Debt Relief

The International Monetary Fund may have found a way to unblock the impasse with China that’s blocked Sri Lanka’s $2.9 billion emergency financial package. The IMF, according to Bloomberg, is actively considering invoking a rarely ...

G7 Finance Ministers Openly Frustrated With China on Debt Relief

Debt relief for developing countries is emerging as the latest front in China’s rapidly escalating confrontation with the U.S, European countries, and Japan. Finance ministers from many of those countries, representing the Group ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP