The G20 Debt Service Suspension Initiative (DSSI) has extended by further six months, the debt relief for poor countries. It must be noted that the G20 DSSI has allowed poor nations to suspend payments on official bilateral debt owed to G20 creditors until the end of the year.
Taking it to the micro-blogging site Twitter, the group announced, “G20 finance ministers and central bank governors have just agreed to extend the G20 suspension initiative by another six months to support the most vulnerable countries in their fight against the COVID-19 pandemic.”
The announcement was made after a virtual meeting of Finance ministers and central bank governors from the G20 major economies that took place on October 14. DSSI supporters had sought a year-long extension but World Bank President David Malpass warned that G20 creditor countries were hesitant to extend the debt relief service for another year.