G20 economies must push relief to avoid debt crises, say experts

Wealthy nations must improve their floundering flagship debt relief initiative or face a spate of debt crises in the developing world, experts and campaigners say as finance chiefs of G20 major economies prepare for meetings later this week.

As the pandemic battered global economies, the Group of 20 leading economies launched measures, including a temporary debt service suspension for poor countries to provide breathing room, as well as the Common Framework - a debt restructuring scheme for long-term relief.

The Debt Service Suspension Initiative (DSSI) has now expired. Meanwhile, having signed up for the Common Framework a year ago, Zambia, Ethiopia and