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National Treasury’s Director-General, Duncan Pieterse addresses the G20 finance and central bank deputies meeting on December 11, 2024.
South Africa says its G20 Presidency will seek new ways to improve debt restructuring and support countries with liquidity challenges.
The G20 established the Common Framework for Debt Treatment in 2020, to assist poor indebted countries with orderly debt restructuring with their creditors.
However, the framework has been criticised for its slow pace with some creditors against the arrangement.
National Treasury’s Director-General, Duncan Pieterse says they also want to be the voice of borrower countries.
Pieterse says, “They will include closer G20 attention on finding ways to improve debt restructuring, supporting countries with liquidity challenges and also encouraging the development of local currency markets to attract domestic savings and improve debt transparency.”
Reporting by Nosipho Radebe and Tshepo Mongoai.
Live stream |The G20 finance and central bank deputies meeting:
