Responding to the G20 Finance Minister meeting today, Ana Arendar, Oxfam Head of Inequality Campaign said:
“The G20 Finance Ministers’ discussions around a new ‘common framework’ to tackle the debt crisis are welcome but this is no breakthrough – far from it. The G20 is lacking any sense of real urgency and – even worse, with low-income countries kept outside the room where discussions are happening.
“Poor and increasingly even middle-income countries are under massive debt pressure. Without cancellation of public and private debt, we could see developing countries falling into default like dominoes. Already many cannot afford doctors and nurses, with precarious chances of a quick recovery from the pandemic.”