G7 leaders said on June 16 that they will intensify efforts to address rising debt vulnerabilities in developing economies and support stronger implementation of the G20 Common Framework for debt treatment.
In a leaders’ statement on mutually beneficial international partnerships, the group said it would enhance work on escalating global debt pressures.
Reuters reported on June 16-17 that the pledge covers high debt burdens among developing countries, including attention to middle-income countries that are not currently eligible for the G20 debt-relief mechanism.
The statement and the Reuters report indicate that the G7 is seeking broader use and stronger execution of the existing framework as debt strains remain a policy focus for lower-income and developing economies.