Russia, China water down G20 text on geopolitical tensions
By Gayatri Suroyo and David Lawder
The G20 talks, held virtually and in the Indonesian capital, Jakarta, were also marked by disagreements over the group's stalled debt restructuring framework.
The final communique failed to endorse International Monetary Fund and World Bank proposals for an immediate debt service suspension for poor countries that seek restructurings and an expansion to include some middle-income countries.
"The G20 discussions on debt were really disappointing," said Eric LeCompte, executive director of the Jubilee USA Network, a faith-based organization campaigning for debt relief for poor countries. He said China was resisting steps to strengthen the bankruptcy-like G20 debt framework "so that they can cut deals on the side" with debtor countries.
Reuters quoted Eric LeCompte on G20 Discussions. Read the full article here.
Read Jubilee's Press Release on G20 Discussions here.
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