LONDON (Reuters) – The worlds poorest countries could soon be facing a tough decision — double up on debt relief from the G20 with the caveat they must default on private creditors, or quit the programme to try to keep financial markets on side.

Rich countries on Friday backed an extension of the G20’s Debt Service Suspension Initiative (DSSI), approved in April to help developing nations survive the coronavirus pandemic and which has seen 43 of a potential 73 eligible countries here defer $5 billion in ‘official sector’ debt payments.

The European …

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