Eric LeCompte, Executive Director of the religious development group Jubilee USA Network who monitored G20 meetings since 2010, releases the following statement on the G20 South Africa Leaders' Declaration:

"The G20 acknowledged the severe challenges we face with development and hundreds of millions of people experiencing hunger.

“G20 leaders recognized high debt levels in developing countries hurt growth, development, and the ability to address poverty and disasters.

“The statement called for improving the Common Framework, the G20 process for countries seeking debt reductions.

“The fact that the Common Framework, in five years, provided debt treatment to four countries that requested it, is a diplomatic way of stating its limitations, since we know 26 countries have been in debt crises since at least 2018.

"The G20 leaders called for the Common Framework to improve and offer speedy, predictable, comprehensive and efficient debt relief.

"The declaration seems to indicate that the G20 would like the Common Framework to become a more bankruptcy-like process or comprehensive debt restructuring process.

“The declaration calls for improving common understanding by all creditors and debtors on how to address debt crises and restructuring.

“It's unprecedented for G20 leaders to call for inclusion of borrower countries to improve international debt policies.

“The G20 is part of a global consensus that debt transparency is a key priority.

“There is a stark focus on the challenges Africa faces, including energy, growth and inequality.

“A significant innovation the Leaders endorsed is the Africa Engagement Framework to support economic, financial and growth objectives.

“The Africa Engagement Framework is designed to ensure that G20 cooperation with Africa becomes more permanent beyond this year.

“South Africa’s offer to support the new framework and organize regional cooperation with African institutions can give this new initiative real staying power."