Finance ministers and central bankers from G7 countries said on Tuesday they favor a temporary halt to debt payments from the world’s poorest countries, but only if G20 Governments also agree.
Noting that poor countries face the most hardship in trying to deal with the coronavirus pandemic, the Group of Seven advanced nations said it stands “ready to provide a time-bound suspension on debt service payments” owed to their governments “if joined by all bilateral official creditors in the G20 and as agreed with the Paris Club.”