Global Debt Crisis: G20 Adopts Framework for Developing Nations
- Title
- Global Debt Crisis: G20 Adopts Framework for Developing Nations
- Details
The Johannesburg Declaration
At the Johannesburg G20 Summit in November 2025, leaders adopted the first standalone G20 declaration on debt since the COVID-19 pandemic.
Key Focus Areas
- Debt Sustainability: Strengthening frameworks to manage rising debt-servicing costs that restrict development expenditure in the Global South.
- Creditor Coordination: Improving international cooperation to streamline debt restructuring processes.
- Resource Allocation: Increasing support for food security and smallholder farmers, addressing the debt squeeze caused by high interest rates, climate shocks, and reduced access to finance.
- Date
- 2025-11-23
- Category
- Economy
- Country/Region
- Global / South Africa