The G20 has just announced the suspension of debt payments for the world's poorest countries until the end of 2020.
The announcement gives low-income countries some temporary relief––but delaying debt payments during a major global economic and health crisis is not enough.
Low-income countries urgently need additional funds to respond to COVID-19. Yet they're forced to divert funds away from essential health services to pay off crippling debt to international creditors.
But wealthy countries like Australia can extend low-income countries an immediate lifeline to help save lives in this pandemic. We can:
- Push powerful institutions like the International Monetary Fund (IMF) and G20 countries to cancel all debt repayments due in 2020 and give grants instead of loans
- Increase untied international aid to less developed countries to prevent the spread of and respond to COVID-19
Sign now: call on Australia as a G20 country to help immediately cancel debt and increase aid to low-income countries.
