| answer text |
<p>The Government is closely monitoring the impact of the crisis on the debt situation
in developing countries, including through our membership of the International Monetary
Fund, World Bank and Paris Club. It is clear that the COVID-19 pandemic is placing
extraordinary pressures on the finances of low and middle income countries. Recognising
this, the G20 has taken action to support these countries, agreeing the landmark DSSI
(Debt Service Suspension Initiative).The DSSI provides a suspension of debt repayments
to eligible countries so they can focus resources on their coronavirus response.</p><p>On
the 14<sup>th</sup> October, the G20 Finance Ministers and Central Bank Governors
(FMCBG) met. They agreed to extend the DSSI for a further six months and, importantly,
reached an in principle agreement on a Common Framework on future debt treatments
beyond the DSSI to facilitate timely and orderly debt treatment for DSSI-eligible
countries where this is required.A further G20 FMCBG meeting is to take place in early
November and the UK is asking all G20 countries to fulfil the necessary internal approvals
to endorse and publish the Common Framework in due course.</p><p> </p>
|
|
