Thursday, October 22, 2020

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G20 left no stone unturned to engage private investors in debt freeze – Saudi Finance Minister

FILE PHOTO: Saudi Minister of Finance Mohammed al-Jadaan wears a protective mask as he attends a virtual meeting of G20 finance ministers and central bank governors in Riyadh, Saudi Arabia July 18, 2020. G20 Saudi Arabia/Handout via REUTERS/File Photo

DUBAI (Reuters) – The Group of 20 major economies did not leave “any stone unturned” in engaging private investors to participate in a debt relief initiative for the world’s poorest countries, Saudi Arabia’s finance minister said on Wednesday.

“We called on the private investors to participate, we engaged with them … to ensure that we have coordination in putting forward a framework for voluntary participation by the private investors,” Mohammed al-Jadaan said during a press briefing.

Saudi Arabia is hosting the G20 this year.

G20 officials agreed to extend a freeze in official bilateral debt payments by six months, and expressed disappointment about the absence of private-sector creditors in the moratorium.

Reporting by Davide Barbuscia; Editing by Chris Reese

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