The G20 states to extend the moratorium on repayment of debts of underdeveloped countries

The initiative to facilitate debtor countries’ repayment is planned to be extended for six months with the possibility of further extension.

WASHINGTON – The Countries of “Big twenty” agreed on a six-month extension of the moratorium to repay debts of underdeveloped countries connected with the coronavirus. According to a draft communique, in April 2021, we will discuss whether an additional extension for another six months.

A document prepared for Wednesday’s G20 meeting of Finance Ministers and Central bankers says the G20 countries have also agreed on a coordinated approach and “common principles” of debt policy, in addition to the initiative to suspend debt servicing.