Overview

• Meeting under South Africa’s presidency in Washington ended without a consensus communique, resulting in a Chair Summary.
• The separate debt declaration calls for a stronger Common Framework executed in a predictable, timely, orderly and coordinated manner, greater debt transparency including private creditor disclosures, and a stronger borrower voice.
• G20 officials judge the risk of a systemic debt crisis as broadly contained, yet many low- and middle-income countries still face high financing costs and constrained growth.
• Debt relief advocates criticize the outcome as unambitious, with Iolanda Fresnillo of Eurodad saying it falls far short of what is needed.
• Officials point to incremental progress on restructuring cases and continued engagement through the Global Sovereign Debt Roundtable, while advocates note developing countries paid about $921 billion in interest in 2024.