Jane Hunt MP asked:
To ask the Chancellor of the Exchequer, what recent discussions he has had with his Chinese counterpart on debt relief for developing countries in response to the covid-19 pandemic.
The Rt Hon John Glen MP, Economic Secretary to the Treasury, responded:
In April 2020, G20 Finance Ministers approved the Debt Service Suspension Initiative (DSSI) to pause debt repayments from the poorest countries in 2020. On 14 October the Chancellor met with his G20 counterparts, including China, to agree an extension of the DSSI for 6 months. The G20 also agreed in principle a Common Framework on future debt treatments beyond the DSSI which will ensure fair, timely and sustainable debt reductions on a case by case basis when needed.
