On 11th June the Bishop of Worcester, the Rt Revd John Inge, asked Her Majesty’s Government “what steps they are taking to ensure that G20 countries cancel any debt owed to them by the poorest countries”.
Baroness Penn responded to his question: My Lords, the Government are concerned by debt vulnerabilities in developing countries, which Covid-19 has amplified. The Chancellor and his G20 counterparts agreed a historic suspension of debt repayments from the world’s poorest countries. This will see official creditors provide up to $12 billion of cash-flow relief to help countries respond to the health and economic impacts of Covid-19. It also provides time to assess what further assistance these countries may need as the full economic impact becomes clearer.Continue reading “Bishop of Worcester asks Government about debt cancellation for poorer nations”