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The leaders of the G20 countries agreed that the initiative to freeze the debt of poor countries, on which 46 countries received a loan deferral, will be in effect until June 2021; it is possible to extend it for another six months.
The leaders of the G-20 countries at the November 21-22 summit, which took place virtually, agreed to extend the initiative to freeze the debt of poor countries until June 2021. This is stated in the final statement published in the summit website.
In addition, the finance ministers of the G20 member countries, together with the heads of the central banks, will discuss whether it is necessary to extend the suspension of loan payments for these states for another six months after July 2020. As of November 13 , 46 countries applied for benefits under this program and received a deferment to pay $ 5.7 billion in debt, according to the document.
According to Reuters, the managing director of the International Monetary Fund Kristalina Georgieva, after speaking with the leaders of the G20, said that in the future it is necessary to help to “reduce the debt burden” of the countries that are not included in the list of the poorest.
In addition, in a statement, the G20 leaders pointed to the lack of participation of private lenders in the initiative and asked “at the request of interested countries to participate in it on comparable terms.”
Also in the final declaration of the G20 summit, access to the vaccine against the COVID-19 coronavirus infection is mentioned: the leaders of the states said they will make “all possible efforts to ensure affordable and equitable access for all people “to safe and effective means of diagnosis and treatment, as well as vaccines against COVID-19.
The G20 includes Argentina, Australia, Brazil, Great Britain, Germany, India, Indonesia, Italy, Canada, China, Mexico, Russia, Saudi Arabia, the United States, Turkey, France, South Korea, South Africa, and Japan.
The 15th Annual G20 Summit was held under the theme “Seizing the opportunities of the 21st century for all”. Like the extraordinary summit in spring 2020, it was held online. Saudi Arabia presided. The summit was also attended by several other states and international organizations, including the World Health Organization.
