G20 debt proposal continues to favour creditors 14 December 2020 by Framework relies on much-critiqued IMF and World Bank debt sustainability analysis Debtor countries must agree to IMF treatment as condition of debt relief Contents to stand behind them in their hour of greatest need,” the world’s poorest countries had “received only about a fraction of what they need in debt relief.” Brown was speaking at the launch event for a proposal for Debt Relief for a Green and Inclusive Recovery written for policymakers by a group of economists, including Kevin Gallagher and Stephany Griffith-Jones. As the global debt crisis exacerbated by the pandemic deepens, the response from the G20 and international financial institutions, dominated by wealthy, creditor countries, risks wreaking further havoc on the economies of countries in debt distress. As well as directly hampering health and other vital public spending during the pandemic, debt repayments look set to undermine any hopes of a just recovery, especially for countries that have already experienced severe social spending cuts from servicing debt prior to the pandemic.