Debt assistance worth $2.1b given to poor nations, says finance minister

China has provided debt relief worth $2.1 billion to lower-income countries under the G20 framework, the highest among G20 members in terms of deferral amount, Finance Minister Liu Kun said on Friday.

China is the leader among G20 members in terms of the debt relief amount, and this is "an important deliverable for the upcoming G20 Leaders' Summit", the minister said. Reiterating that China will continue to help the world's poorest countries, Liu said the focus would be on tackling debt-related issues and bolstering economic and social recovery.

The G20 debt relief plan aims to enable lower income countries to free up more fiscal space for increasing social, health or economic spending, and meet the short-term liquidity needed to cope with the COVID-19 pandemic, experts said.