G20 will bail out debt distressed countries such as SL, Ghana

The G20 country leaders have committed to redouble efforts to resolve ongoing debt distress cases – like Ghana and Sri Lanka, the US White House said in a statement.

“President Biden called on the G20 as leaders in the global economy to provide meaningful debt relief so that low- and middle-income countries can regain their footing as they seek to recover from compounding economic shocks in the last few years, and invest in critical development needs. Leaders in New Delhi committed to redouble efforts to resolve ongoing debt distress cases – like Ghana and Sri Lanka. President Biden made it clear that the United States expects meaningful progress by the World Bank and IMF Annual Meetings in October,” the White House statement said.

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