Merkel sees ‘further steps’ ahead to ease developing countries’ debt

The international community may soon take “further steps” to ease developing nations’ debt burden on top of a payments freeze decided last month, German Chancellor Angela Merkel said.

“We took a correct step with the debt moratorium by the G20 and Paris Club, but it’s only a moratorium” on repayments, Merkel told reporters in Berlin.

In her talks with the heads of economic groups including the World Trade Organization, International Labour Organisation, World Bank, IMF and OECD “it was definitely highlighted that this might not be the final step,” Merkel added.

Last month, G20 and Paris Club creditor nations agreed to waive most debt payments for the world’s poorest countries in 2020 as a result of the coronavirus crisis.

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