BRUSSELS, Dec 1 (KUNA) -- European Union Economic and Finance Ministers Tuesday in a video conference discussed the G20 finance ministers' and central bank governors' meeting on 13 November which focused on debt relief due to the coronavirus crisis.
The EU ministers in a statement after the meeting underscored their support for a coordinated international approach to debt relief efforts for African countries.
They welcomed the G20/Paris Club Debt Service Suspension Initiative (DSSI) and its extension. The DSSI has been fundamental in supporting countries that have asked to participate, by freeing up fiscal space to fund social, health and economic measures to respond to the pandemic.
They also welcome the G20 agreement on a Common Framework for Debt Treatments beyond the DSSI which will be instrumental in ensuring strong creditors' coordination and is considered a major step forward in the international architecture for sovereign debt restructuring.
Further, Ministers discussed international taxation, covering ongoing work and the way forward on a broad range of issues related to the future architecture of rules on international taxation. (end)