After Default, Zambia Becomes Third Country Seeking G20 Debt Relief
After Default, Zambia Becomes Third Country Seeking G20 Debt Relief
February 05, 2021
Washington DC – Zambia requested the G20 coronavirus debt relief process, the Common Framework for Debt Treatment beyond the Debt Service Suspension Initiative. The process allows up to 73 of the world’s poorest countries to seek support under the mechanism.
“The pandemic is hitting the economies of poor countries pretty hard and many more countries will be requesting debt relief, noted Eric LeCompte who leads the religious development group Jubilee USA and advises the United Nations on debt issues. Zambia needs serious debt relief. Before the pandemic, 60% of Zambians lived below the poverty line.
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