JOHANNESBURG – United Nations Secretary-General Antonio Guterres said on Wednesday that existing debt relief mechanisms were far from adequate to address global vulnerabilities, calling on the Group of Twenty nations to do more to deliver financial justice.
Guterres made the comments during a visit to South Africa, which became the first African country to lead the G20 when it took the helm of the international forum of developed and developing economies this month.
The G20’s “Common Framework”, a debt relief architecture launched during the COVID-19 pandemic to help heavily-indebted countries get back on track quickly, has been criticised following slow restructurings in countries including Zambia.
“I recognise all the efforts the…
