, and the G20 Common Framework needed to be revamped to deliver debt restructuring agreements more quickly.
“It has made some progress, but a lot more is needed to actually get it to deliver on its promise” to help countries with unsustainable debt levels, she said. She said several low-income countries are already paying almost 3% of their total economic output to service debt. “And as interest rates go up that is going to go up further. So I think this is indeed a period where one has to be very careful about what’s going on in terms of debt servicing abilities of countries.”
A G20 debt service suspension on official bilateral debt expired at the end of 2021, but progress has been slow on implementing a broader
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