Debt: Heads of State and senior leaders call for broadening suspension of low-income countries
Several heads of state and government, the UN Secretary-General and heads of multilateral development finance institutions called on 29 March for the expansion of the Debt Service Suspension Initiative, which has allowed low-income countries to suspend debt payments during the Covid-19 pandemic, among other things.
Participants called for the reallocation of International Monetary Fund (IMF) Special Drawing Rights to the poorest countries.
The initiative should be extended beyond low-income countries and its expiry date extended to provide much-needed fiscal space, speakers argued in a debate on international debt architecture and liquidity. The meeting also called for the reallocation of International Monetary Fund (IMF) special drawing rights to the poorest countries.