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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