The debt of low-income countries risks further aggravating the consequences of the pandemic, which has compromised the development prospects of these countries at least as much as the sustainability of the debt itself. Starting from here, from a reconversion of the debt of low-income countries, is a categorical imperative for Link2007, which on Wednesday 23 June at 10 am will officially present the Release G20 proposal in a high-level webinar, which provides for a flexible, total or partial debt of low-income countries and of those whose debt problems have been aggravated by the economic and social consequences of the pandemic.
The initiative proposes to the G20, the UN Institutions and Agencies, the International Financial Institutions to overcome the suspension of payments and to carry out a debt conversion, with flexible methods that avoid cases of default, while promoting investments for the environmentally and socially sustainable recovery. Release G20 suggests replacing the debt repayment, allocating the related amounts in local currency to defined investments aimed at creating new jobs and achieving the sustainable development goals of the 2030 Agenda.
The webinar, which will be opened by Marina Sereni, Deputy Minister of Foreign Affairs and International Cooperation, will be attended by the president of Link2007 Roberto Ridolfi, who will illustrate the proposal in detail, the diplomatic advisor and Sherpa G20 of the Prime Minister Luigi Mattiolo, the Minister of Foreign Affairs of the Republic of Guinea Ibrahima Khalil Kaba, the Minister of Finance of the Republic of Uganda Matia Kasaija, the CEO of the African Union Development Agency (Nepad) Ibrahim Assane Mayaki. In a second part of the webinar, a round table will be held, opened by Deputy Minister Sereni and moderated by Francesco Rampa of the G20 sherpa office of the Presidency of the Council of Ministers, which will be attended by the Ambassador of the People’s Republic of Algeria Ahmed Boutache, the Ambassador of the Republic of Zambia Joseph Katema, the Ambassador of Republic of Ghana Eudora H. Quartey Koranteng, Ambassador of the Democratic Republic of Congo Fidèle Khakessa Sambassi, Ambassador of the Islamic Republic of Mauritania Ely Salem Zeineb, Ambassador of the Kingdom of Morocco Youssef Balla, the Ambassador of the Republic of Senegal Pope Abdoulaye Seck and Cleophas Adrien Dioma, representing the National Council for Development Cooperation.
The conclusion of the works will be entrusted to Marco Ricci, President of the Development Working Group, Italian Presidency of the G20.
The conference will be held online and you can register at this link.