This briefing provides an analysis of the possible structure of the G20 'Common Framework for Debt Treatments beyond the DSSI'. It describes the likely structure of the framework, and analyses why a Paris Club-based approach to the Common Framework is unlikely to succeed.
Read the briefing in English, Spanish, Portuguese and French.
Last week was a crucial week for the citizens of developing countries, who are being hit hard by the Coronavirus crisis. They are facing increasing poverty, growing inequality and uncertain futures – and were looking to the world's leaders for decisive action. Yet despite a week of stirring rhetoric from G20, International Monetary Fund (IMF) and World Bank (WB) leaders, who claim they are determined to tackle the crisis, the results are deeply disappointing. What is clear is that world leaders and the Bretton Woods institutions need to take much more ambitious steps to deliver in the public interest.
As the Annual Meetings of the IMF and World Bank draw to a close, Jean Saldanha, Director of the European Network on Debt and Development (Eurodad) reflects on a crucial, but disappointing, week in development finance.
Civil society activists from across the world have come together online to sound the #DebtAlarm, calling upon world leaders to act on debt cancellation.
Today the G20 announced a six-month extension to the Debt Service Suspension Initiative. It also extended the period of debt payments suspension from four years to six years. In addition, the G20 announced a common framework for debt treatments beyond the DSSI, the details of which will be announced in November.
The Covid-19 pandemic has triggered health, economic and social crises of unprecedented proportions that have the potential to seriously undermine the (already slow) progress made by developing countries towards achieving the Sustainable Development Goals.
Today the OECD published its blueprints for how to repair the global corporate tax system, which follows an update that the OECD provided in January 2020.
