G20 Endorses Common Action Framework to Tackle Debts beyond Debt Service Suspension Initiative

Under the Kingdom of Saudi Arabia’s presidency of the G20, last November, the group endorsed a Framework for the Common Action to Tackle Debts beyond the scope of the Debt Service Suspension Initiative, which was endorsed by the Club of Paris, too.
On the other hand, Chadian authorities forwarded a request to tackle its debts to creditors within the G20 and the Club of Paris, as well.
All creditors to Chad within the G20 and the Club of Paris have formed a committee for the creditors, co-chaired by the Kingdom of Saudi Arabia and France to discuss the Chadian request.
The first meeting of the committee virtually took place, on April 15, 2021.
During the meeting, the Kingdom of Saudi Arabia, France, China and India have emphasized committing to carrying out the framework of the common action, in a concerted manner to meet the request of Chad.
They also have underscored the significance of abiding by the principle of reciprocity, as set forth in the Common Framework of Action, endorsed by the G20, under the presidency of the Kingdom of Saudi Arabia.

 

Source: Saudi Press Agency

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