World Bank chief welcomes G20 progress on debt relief

Washington, Nov 22 : World Bank Group President David Malpass said that he was very pleased to see the progress the G20 group of countries has made on debt transparency and debt relief.
“These are important, positive steps for development, and I’ve been glad to see constructive responses from major creditors,” Malpass said in remarks to the 12th G20 summit hosted by Saudi Arabia via video conference on Saturday.
The G20 endorsed the Debt Service Suspension Initiative (DSSI) in April to help the poorest countries in response to the Covid-19 pandemic.
The DSSI was extended in October by six more months.
Last week, G20 Finance Ministers and central bank governors pledged to commit to the DSSI in close coordination, saying that maximum support would be provided for DSSI-eligible countries.
Chinese President Xi Jinping on Saturday said that the country supports a G20 decision on the extension of the DSSI, and will continue to fully implement it along with other parties.