On April 15, the Group of Twenty (G20), an international forum that assembles governments, central bank governors, and international organizations, endorsed a suspension of debt service for seventy-six countries from the Global South. This was not quite debt cancellation, but a postponement of payment.
Granted on a case-by-case basis, this measure only concerns bilateral debt, and therefore excludes multilateral debts and those owed to the private sector. A few weeks later, on May 13, a coalition of three hundred parliamentarians led by Bernie Sanders published a letter calling on the International Monetary Fund (IMF) to provide extensive debt forgiveness for these same countries.
Since the first outbreak of the COVID-19 pandemic, the …
Read the full article at: https://www.jacobinmag.com/2020/06/global-south-debt-relief-g20-argentina-economic-crisis
