The Finance Ministers and Central Bank Governors of the G7 (United Kingdom, Canada, France, Germany, Italy, Japan, United States, EU) agreed on Friday 12 February, under the British Presidency, to support vulnerable countries in their post-Covid-19 recovery.
According to a statement from the UK Treasury, Chancellor of the Exchequer Rishi Sunak has called on the G7 to take the lead in defining support for vulnerable countries in 2021. He has also made climate and nature considerations a central priority of this year’s financial programme.
Private sector creditors were called upon to play their full role in helping to ensure a sustainable treatment of the poorest countries’ debt and thus pave the way for global recovery.
On her Twitter account, IMF Managing Director Kristalina Georgieva reported a “full alignment of views on access to vaccines, policy support until the end of the crisis, climate action, and comprehensive support for vulnerable countries”. The IMF is considering issuing $500 billion in Special Drawing Rights (SDRs) for this purpose.
On Tuesday 16 February, the European Finance Ministers will exchange views on the challenges of financing recovery in middle-income countries, as part of the EU’s global initiative for global recovery (see EUROPE 12657/15, 12656/4). (Original version in French by Aminata Niang)