Persisting economic divergences could put global recovery at risk, not least by contributing to financial market tensions and undesired capital flow volatility.
The G20 has promoted a number of initiatives to free up resources for vulnerable countries to address the pandemic, including a suspension of debt service, until end-2021, and the setting up of a common framework for the treatment of distressed debt of certain eligible countries. In October, Ministers and Governors reiterated their commitment to making progress in its implementation.