Eric LeCompte is Quoted in Devex on G20 Debt Framework

Eric LeCompte is quoted in Devex on the G20's debt relief framework. Read an excerpt below, and click here for the full story.

G20 Releases Debt Framework Details

WASHINGTON — The G-20 group of leading economies agreed to a debt framework to help countries pursue debt restructuring or forgiveness, building off of its Debt Service Suspension Initiative and recognizing that some nations may need additional relief, according to a communique released after an extraordinary meeting of G-20 finance ministers and central bank governors Friday.

“There is no doubt this is incredible progress,” said Eric LeCompte, executive director of Jubilee USA Network. “This process is a step forward that includes more actors and will expedite relief and reduction.”

Another concern is that the framework only applies to DSSI countries, leaving out middle-income countries, which in some cases are also facing significant debt burdens, LeCompte said, adding that he hopes the agreement could potentially be expanded to a broader group of countries down the road.

When the G20 Leaders’ Summit takes place this month, the debt framework is likely to be part of a broader communique and will likely be highlighted by leaders, LeCompte said.

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