The outlook for the global economy and the situation of highly indebted countries will be the main topics of discussion at the Group of 20 (G20) meetings taking place this week in India, German Finance Minister Christian Lindner said on Monday.
India supports a push by the International Monetary Fund , the World Bank and the United States for the so-called Common Framework - a G20 initiative launched in 2020 to help poor countries delay debt repayments - to be expanded to include middle-income countries.
Lindner argued that the framework should be tested with poorer nations before it is expanded to middle-income countries. "We can't take the third step without taking the second," he said. However, Lindner added that he sees a lot of potential in the CF, which is why all stakeholders must now be brought to the table to jointly decide which instrument to choose.Just days before the first anniversary of Russia's full-scale invasion of Ukraine, Lindner praised the unity among Western nations in supporting Ukraine, both financially and militarily. "This unity has surprised the Kremlin in particular. And we need to maintain that clarity," he said.
Reporting by Christian Kraemer, Writing by Maria Martinez, Editing by Miranda Murray and Friederike Heine
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