Economics
G-7 Backs Debt-Freeze Extension, Shows China Compliance Concern
- Consensus grows to extend debt freeze as virus hurts economies
- Concerns remain over length, how to include private creditors
This article is for subscribers only.
Group of Seven countries backed an extension of a freeze in debt payments from the world’s poorest nations struggling with Covid-19, while signalling criticism for China for failing to fully participate.
The support of the club of industrialized economies, whose finance ministers met on Friday, signals a growing consensus within the Group of 20, a wider body that includes China. But the countries underlined the need for members that aren’t part of the Paris Club group of creditors to fully participate in the debt relief, a comment likely aimed at the Asian nation.