By Colleen Goko
JOHANNESBURG (Reuters) -The G20’s leadership is heading away from the Global South just as debt problems in poorer countries threaten to flare again, testing whether the group’s ambitions on debt relief will translate into action under a United States presidency.
South Africa on Sunday handed the G20 presidency over to the United States, completing a run of four major emerging economies, including Indonesia, India and Brazil, steering the group, years in which debt sustainability across developing nations became an increasingly prominent priority.
Debt across emerging economies has hit a record high, topping more than $100 trillion. In Africa, the topic is acute: with the International Monetary Fund warning that some 20 African countries were in or at high risk of debt distress.
South Africa’s G20 Debt Focus to Be Tested as US Takes the Chair
