Policy Update

German Development Minister calls for debt remission for low-income countries to free resoures in fight against COVID-19

German Development Minister Gerd Müller has called on donor countries to cancel debt repayments from low-income countries to free resources to fight the COVID-19 pandemic.

While announcing his support for the G20 leaders’ recently approved COVID-19-response package of US$5 billion to support the global economy, Müller emphasized the need to include a debt cut for the world’s poorest countries to ensure their ability to act. The G7 and G20 countries should, he said, bring forward a comprehensive stabilization package to mitigate the economic downturn in low-income countries.

News article - RND (in German)