Meeting the Moment

Debt Relief for Middle Income Countries

Debt Relief for Middle Income Countries

On June 1 the T20-associated Webinar addressed the risk of external debt distress which middle-income countries are facing: As the world runs the risk of a financial crisis from the COVID-19 pandemic, MICs are showing particularly high vulnerabilities. This is worrying, as most of these countries are not covered by current debt relief schemes.

Questions concerning the consequences of rising debt levels in MICs for the global community and ways to support affected countries were discussed by the following speakers, among them DRGR report authors Shamshad Akthtar and Kevin P. Gallagher:

  • Avinash PERSAUD, Special Envoy to Mia Mottley, the Prime Minister of Barbados
  • Carmen REINHART, Vice President and Chief Economist, World Bank Group
  • Shamshad AKHTAR, Chairperson, Pakistan Stock Exchange; Former Central Bank Governor and Minister of Finance, Pakistan
  • Rakesh MOHAN, President and Distinguished Fellow, Centre for Social and Economic Progress (CSEP), India
  • Franco BRUNI, Vice President, ISPI; Lead Co-Chair, T20 Italy TF9 on International Finance
  • Kevin P. GALLAGHER, Director, Global Development Policy Center, Boston University; Co-Chair, T20 TF9 on International Finance

Video Recording (starting at 32:20 with the presentation by Shamshad Akthar):

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