G20 leaders commit to support all developing and least developed countries as they face the intertwined health, economic, and social effects of COVID-19, recognizing the specific challenges in Africa and small island developing states. The leaders reiterated their committment to implementing the Debt Service Suspension Initiative (DSSI) including its extension through June 2021, allowing DSSI-eligible countries to suspend official bilateral debt service payments.
They urged Finance Ministers and Central Bank Governors in their respective countries to examine by the time of the 2021 IMF/WBG Spring Meetings if the economic and financial situation requires further extension of the DSSI by another 6 months, which is also agreed by the Paris Club. Stressing they will continue to closely coordinate its ongoing implementation to provide maximum support to DSSI-eligible countries, so that struggling emerging, developing, and low-income countries can benefit from this debt services deferral initiative.
On the Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) front, the leaders reiterated their commitment to tackle all sources, techniques, and channels of threats. The leaders also reaffirm their commitment to strengthening the FATF’s Global Network of regional bodies, including by supporting their expertise in mutual evaluations, and call for the full, effective, and swift implementation of the FATF standards worldwide. Click here to read the full declaration.