Markets Wired

WASHINGTON – U.S. Treasury Secretary Steven T. Mnuchin issued the following statement following a call with his G7 counterparts, the European Commissioner for Economy, Eurogroup President, Managing Director of the International Monetary Fund, and President of the World Bank:

“I welcome the continued strong support among the G7 for helping low-income countries address the impacts of COVID-19, including through participation in the Debt Service Suspension Initiative.  The G20 and other official bilateral creditors should work cooperatively with low-income beneficiaries, the International Monetary Fund, and the World Bank to identify and reschedule all applicable debt for those countries that request participation.  The transparency improvements we achieve under this initiative should provide a strong basis for enhancing debt sustainability going forward.  G7 Finance Ministers expressed our commitment to continue to convene on a regular basis to work together on critical economic issues to restore each of our economies.  I look forward to making significant progress to review with the G20 Ministers at the meeting in July.”

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