RIYADH, Nov. 13, (Xinhua) -- Finance ministers and central bank governors of the Group of 20 (G20) pledged on Friday to commit to the Debt Service Suspension Initiative (DSSI) in close coordination.
While discussing the common framework for the developing world's debt, they said maximum support would be provided for DSSI-eligible countries.
According to Saudi officials, this common framework will be an unprecedented agreement and a major breakthrough in international debt agenda.
In April, the DSSI was launched by the G20 to address the immediate liquidity needs of low-income countries. In the light of the financial fallout of the COVID-19 crisis, the DSSI was extended in October by six more months.