 "G7 backs extension of G20 bilateral debt freeze, calls for more reforms")
G7 finance ministers on Friday backed an extension of a G20 bilateral debt relief initiative for the world's poorest countries, but said it must be revised to address shortcomings hindering its implementation.
In a lengthy joint statement, the ministers from the Group of Seven advanced economies — after an online meeting hosted by US Treasury Secretary Steven Mnuchin — said they “strongly regret” moves by some countries to skip participation by classifying their state-owned institutions as commercial lenders.
Two officials from G7 countries said the reference was clearly targeted at China, which has refused to include loans by
In a lengthy joint statement, the ministers from the Group of Seven advanced economies — after an online meeting hosted by US Treasury Secretary Steven Mnuchin — said they “strongly regret” moves by some countries to skip participation by classifying their state-owned institutions as commercial lenders.
Two officials from G7 countries said the reference was clearly targeted at China, which has refused to include loans by
