Reuters quotes Eric LeCompte, Executive Director of Jubilee USA, on the G20 and its recent declaration on debt during the IMF and World Bank Annual Meetings. Read an excerpt below or the full article here.

G20 vows to keep focus on developing countries' debt issues

By: Andrea Shalal

"Eric LeCompte, executive director of Jubilee USA Network, said unsustainable debt remained a G20 priority, noting that developing countries spent $921 billion on interest payments alone - not principal - in 2024, a 10% jump from 2023, with more increases expected this year.

"We see a consensus around the severity of debt payment challenges, but not yet a consensus on how to solve the debt challenges," he said. "Countries cannot borrow their way out of this crisis."

Read more here.