US-China Standoff Hits G-20 Effort to Revamp Poor Nations’ Debt
- Debt woes top the agenda for G-20 finance ministers this week
- Zambia and Sri Lanka talks hint at fraught path for others
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In the realm of global economic policy, Friday Nov. 13, 2020, was meant to be about hope — not the trigger for another pandemic-era fright.
That’s when Group of 20 finance ministers announced final agreement on a blueprint for the US, China and other relatively new creditor countries like India to cooperate on debt relief for more than 70 low-income nations facing a collective $326 billion burden, and deliver it in a “timely and orderly” way.