Open letter to G20 Finance Ministers

Global business, workers and civil society call for an effective common framework for sovereign debt treatments to avoid a lost decade.

Global business, workers and civil society have urged G20 governments to take necessary steps to avoid a “lost decade” of sustainable development as they finalise a Common Framework for debt treatments beyond the Debt Service Suspension Initiative (DSSI).

ICC, the institutional representative of over 45 million businesses, the International Trade Union Confederation (ITUC), the global voice of the world’s working people, and Global Citizen, a movement of engaged citizens who use their collective voice to end extreme poverty by 2030, have urged G20 Finance Ministers to ensure that the Common Framework avoids ‘short and shallow’ debt restructurings, and is complemented by a global recovery package that enables all countries to recover better together.

The open letter to G20 Finance Ministers builds on earlier previous interventions from the three organisations calling for a comprehensive package of debt relief to support the most vulnerable.