The G20’s Common Framework was supposed to make resolving sovereign defaults more doable — but so far, it’s been a dud.
Yes, but:
So far, China has shown little indication it's willing to accept such losses, leaving countries like Zambia, Ghana and Ethiopia — and millions of people — inThe COVID crisis was especially painful for poorer countries, which were rocked by a collapse in currency values and commodities pricesTo deal with the growing defaults, the G20 group of nations created something called the Common Framework in late 2020.
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