Campaigners Disappointed by G20 Meeting

Campaigners outside Parliament representing CAFOD, Christian Aid, Global Justice Now, Jubilee Debt Campaign and Oxfam call on G20 Finance Ministers meeting on 14th October 2020 to Cancel the Debt

Source: CAFOD / Independent Catholic News

Against a backdrop of a world reeling under the coronavirus pandemic – in spite of appeals from international humanitarian aid agencies and campaigners – in their virtual meeting today, the G20 finance ministers failed to cancel any developing world debt.

Dario Kenner, CAFOD’s Sustainable Economic Development analyst commented: “Private creditors are profiteering off the backs of the world’s poorest people. Any debt relief that developing countries might receive from donor governments is only snatched away again by private creditors who continue to demand repayments.

“Private creditors like BlackRock, JP Morgan and HSBC have failed to do the right thing so it’s now time for G20 governments to compel them to cancel the debts of developing countries. This will free up money that is urgently needed to tackle the health and economic impacts of the coronavirus pandemic.”


CAFOD Briefing paper: