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Video August 4, 2020

Expert Answers: How is Suspending Debt Service Payments Helping the Fight against COVID-19?

The coronavirus pandemic is putting tremendous strain on countries around the world – not least those who already have relatively limited resources. In April, the World Bank Group and International Monetary Fund called on bilateral creditors to allow developing countries to suspend their bilateral debt service payments and focus resources on responding to the pandemic. The plan was called the Debt Service Suspension Initiative (DSSI), and G20 Finance Ministers quickly agreed to support it. In the latest episode of Expert Answers, the World Bank Group’s Global Director for Macroeconomics, Trade and Investment, Marcello Estevão, answers our questions on how the program works and just how effective it has been.