G20 draft welcomes moves on Zambia, Ghana debt restructurings

Finance leaders from the Group of 20 (G20) major economies welcomed “advanced work” toward finalization of a memorandum of understand for Zambia’s debt treatment and “ongoing progress” in the case of Ghana.

In a draft communique seen by Reuters, G20 leaders also called for a “swift conclusion” of debt talks underway for Ethiopia and Sri Lanka.

They encouraged efforts of Global Sovereign Debt Roundtable participants to strengthen communication and foster a common understanding among key stakeholders, both within and outside the G20 Common Framework to facilitate debt relief plans.