As access to vaccines continues to hamper developing countries’ response to the COVID-19 pandemic, many of these countries also face significant public debt burdens. The Debt Service Suspension Initiative (DSSI), intended to ease pandemic-related burdens on low and middle income countries, expires at the end of 2021. The DSSI saved 43 countries $5.7 billion in total, paling in comparison to their overall debt levels. Last month, the Group of 20 (G-20) central bank heads and finance ministers offered a broader plan, the Common Framework, for restructuring debt to official creditors. They...
On Their Own Terms? Sovereign Debt Choices in Developing Countries
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