The Finance Ministers and Central Bank Governors of the G20 Countries held a meeting today under the Kingdom of Saudi Arabia's presidency of the G20, chaired by Minister of Finance Mohammed Al-Jadaan and Governor of the Saudi Arabian Monetary Authority Dr. Ahmed Al-Kholifey. The Finance Ministers and Central Bank Governors of the G20 Countries issued the following statement: Given the scale of the COVID-19 crisis, the significant debt vulnerabilities and deteriorating outlook in many low-income countries, we recognize that debt treatments beyond the Debt Service Suspension Initiative (DSSI) may be required on a case-by-case basis. In this context, we endorse the "Common Framework for Debt Treatments beyond the DSSI" (Annex I), which is also endorsed by the Paris Club. We remain committed to implementing the DSSI, in close coordination, to provide maximum support to DSSI-eligible countries. All official bilateral creditors should implement this initiative fully and in a transparent manner. We also discussed outstanding issues related to the DSSI and agreed on the extended version of the addendum to the April 2020 DSSI Term Sheet as set forth in Annex II, which is also agreed by the Paris Club. Annex I: Common Framework for Debt Treatments beyond the DSSI Recognizing that efficiently addressing ongoing debt vulnerabilities will require a case-by-case approach, but also strong creditors' coordination, the present document sets out a common framework for the G20, which is also agreed by the Paris Club, to facilitate timely and orderly debt treatment for DSSI-eligible countries, with broad creditors' participation including the private sector. --More 18:23 LOCAL TIME 15:23 GMT 0014 www.spa.gov.sa/2157650
