Blog about the IIF's role in the "disappointing" private creditors' engagement in the DSSI of the G20 who meets today
Today, the G20 Finance Ministers and Central Bank Governors are meeting virtually as announced by the Italian Presidency .
On the announced agenda, the extension of the DSSI and the implementation of the Common Framework to provide actual debt relief to developing countries is not explicitly mentioned.
As you know, the private lenders and bondholders have not been responding positively to the G20 call to participate in the DSSI on equal terms. As a result, an important amount of the moneys freed by the DSSI, granted or lent to low and middle income countries has been used to repay the private creditors.
The G20 had given the Institute of International Finance (IIF) a privileged role in galvanizing private sector to provide debt servicing suspension. Given the IIF’s role and its very “disappointing” results, SOMO started to research the IIF. A short reflection of the first findings have today been published in a SOMO blog https://somo.nu/39KPB6c .
If you are interested in the SOMO research about the IIF and its wide-ranging engagement with debt by middle and low income countries, please contact me ([email protected]).
Best wishes and looking forward to hearing from you,
Myriam Vander Stichele
SOMO – www.somo.nl