The EU is committed to furthering international debt relief efforts for African countries.
The Council today approved a set of conclusions in response to a call from the European Council of 15-16 October 2020 to prepare a common approach in this respect.
The conclusions highlight the increasing debt vulnerability in low income countries, particularly in Africa, and underscore the EU’s support for a coordinated international approach on debt relief efforts for African countries.
The Council welcomes the G20 – Paris Club Debt Service Suspension Initiative (DSSI), which offers a temporary debt moratorium to the poorest countries to help them manage the severe impact of the COVID-19 pandemic, and its extension until 30 June 2021 with the possibility of a further extension by 6 months. It commits to full and transparent implementation of this initiative. Read More.