G20 Pledges Renewed Debt Relief for Developing Nations — Critics Demand Action, Not Promises
At the IMF–World Bank meetings, the world’s biggest economies recommit to easing the debt burden on low-income countries — but civil-society groups call for deeper reform.
Marrakesh
G20 finance ministers closed their sessions in Marrakesh with a renewed vow to address global debt distress, particularly in Africa and parts of Asia. The communiqué emphasized “predictable restructuring processes” and “inclusive creditor participation.”
Over 60 percent of low-income nations are now in or near debt distress, according to the IMF. Uganda, Kenya, and Zambia are among those facing surging repayment costs amid global interest-rate hikes.
“The world’s poorest economies are suffocating under old debt,” said IMF Managing Director Kristalina Georgieva. “Without decisive action, sustainable growth is impossible.”
Civil-society groups were less impressed. Oxfam called the statement “a familiar echo of past pledges with little enforcement.”
“We need debt cancellation, not cosmetic restructuring,” said campaigner Moses Okello in Nairobi.
Economists warn that debt crises risk undermining Africa’s energy transition and healthcare systems. Still, some analysts say the G20’s renewed focus may open doors for fairer frameworks and digital-finance transparency.
G20 Pledges Renewed Debt Relief for Developing Nations — Critics Demand Action
At the 2025 IMF–World Bank meetings, G20 nations reaffirm debt-relief commitments for developing economies — but campaigners say promises ring hollow.
g20-debt-relief-pledge-2025
