Group of Seven finance ministers on Wednesday said a debt relief initiative for the world’s poorest countries could be extended beyond the end of the year to help deal with the economic fallout from the coronavirus pandemic.
In a lengthy joint statement, the G7 finance ministers urged all official creditors to join the initiative, called for strengthened reporting of public debt data, and said all creditors – public and private – should make responsible lending decisions in line with debt sustainability guidelines.
In an apparent reference to practices reportedly used by China, a major creditor for low-income countries, the ministers of the world’s most advanced economies also said creditors should fully disclose terms of public debt…
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