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<p>The sustainability and transparency of debts held by low income developing countries
is currently a G20 priority. Given the complex nature of sovereign debt, we continue
to believe that internationally-agreed approaches are the most effective way to achieve
progress in this area.</p><p> </p><p>The UK recognizes that creditors, including private
creditors, have an important role to play in promoting sustainable lending. The G20
is currently supporting the Institute of International Finance’s efforts to increase
the transparency of lending to developing countries, which we hope will support sustainability
and drive up standards.</p><p> </p><p>Separately, in the UK, there are already prudential
requirements for firms to hold sufficient capital against their exposures and have
adequate risk controls in place. These are supervised by the Prudential Regulation
Authority.</p>
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