The G20 countries issued a communiqu (14 page / 219KB PDF) in April announcing they had agreed on a coordinated debt suspension approach with a common term sheet for the initiative.
Chinas foreign minister Wang Yi confirmed in May that China was pursuing debt relief for developing countries, largely in Africa, through the G20 debt suspension initiative. Last week vice foreign minister Ma Zhaoxu said repayments had been suspended from 77 developing countries.
We will work with other G20 members to implement the debt service suspension initiative to ease Africa’s debt burden. We are also considering further bilateral support for African countries under the greatest strain to help our African brothers and sisters through this difficult ti…
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