China backs G20’s debt relief offer

BEIJING: The G20 is expected to endorse a plan to extend a debt-servicing moratorium for poor and highly indebted economies in the developing world by six months to mid-2021, said the G20 communique released on Sunday, as the coronavirus pandemic has hit the most vulnerable nations in the world hardest.

“We are committed to implementing the Debt Service Suspension Initiative (DSSI) including its extension through June 2021, allowing DSSI-eligible countries to suspend official bilateral debt service payments,” said the communique.