The Group of 20 major economies has released a ministerial declaration on debt — one that reaffirmed support for the G20’s existing debt restructuring program, and committed to strengthening its implementation.
It is the first time a declaration on debt has been issued since the COVID-19 pandemic, and the only topic on which finance ministers from all G20 countries — including the United States — reached enough of a consensus for a communiqué.
“The G20 continues to play an important role in fostering stability, inclusion, and sustainability in the international system, and we are confident that the work carried forward from this presidency will strengthen our shared efforts to build a more equitable, resilient and prosperous global economy,” said David Masondo, South Africa’s deputy minister of finance, at the World Bank and International Monetary Fund annual meetings last week.
About the authors
Elissa Miolene
Elissa Miolene reports on USAID and the U.S. government at Devex. She previously covered education at The San Jose Mercury News, and has written for outlets like The Wall Street Journal, San Francisco Chronicle, Washingtonian magazine, among others. Before shifting to journalism, Elissa led communications for humanitarian agencies in the United States, East Africa, and South Asia.
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
