G-20 agrees to extend Debt Service Suspension till 2021 end
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Home Bharat

G-20 agrees to extend Debt Service Suspension till 2021 end

Nirendra Dev by Nirendra Dev
Oct 30, 2021, 08:34 am IST
in Bharat, World
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Minister Piyush Goyal, the Sherpa for India at the G-20 Summit, said G-20 has agreed to extend the Debt Service Suspension initiative till the end of 2021, thereby ensuring no premature withdrawal of support post covid economic recovery.

 

New Delhi: In testimony to India's growing influence in the comity of nations, India has assertively ensured that there is "no premature withdrawal of support" post-Covid Economic Recovery, and the most vulnerable sections are provided with the necessary support. This was stated by Union Commerce Minister Piyush Goyal, the Sherpa for India, at the G-20 Summit.

"The G-20 has agreed to extend the Debt Service Suspension initiative till the end of 2021, thereby giving some breathing space to those in need and vulnerable around the world," Mr Goyal said at a special Sherpa briefing in Rome. He said India is happy to support G-20 countries on "mutual recognition of travel documents, including testing and vaccine certificates." 

"For Sustainable Development and food security, India has insisted that policies must protect interests of small and marginal farmers, conserve local food cultures which in turn will ensure food security," he said. 

India supports the need for critical enablers for galvanizing global Climate action like commensurate, long term, concessional climate finance, access to affordable and sustainable technology, and commitment to adopt sustainable lifestyles and responsible and consumption patterns, Mr Goyal said.

Besides the G-20 Summit, Prime Minister Narendra Modi on Saturday (October 30) will have key bilateral meetings with President of France Emmanuel Macron. Sources said he would also meet Indonesian President Joko Widodo and President of Singapore Halimah Yacob.

Session I of G-20 will be on 'Global Economy and Global Health'.

Mr Goyal also said India is going to take on the G-20 presidency on December 1, 2022.

"We will be the president and take the chairmanship of G20 for the year 2023. We will enter the Troika on December 1 2021 and will play a leadership role on the issues and concerns of the developing countries and emerging market economies in the G20 Forum under the leadership and guidance of Prime Minister Narendra Modi," he said. 

India's efforts in building more consensus and building back the support of all the developed nations towards resilient supply chains and faster recovery of vulnerable economies have been "widely appreciated by other G20 members", he said adding, "India shall continue to represent the voice of the low and middle income countries."

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