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Readout from a Treasury Spokesperson on Secretary Mnuchin's Discussion with G7 Finance Ministers

Washington DC, August 17, 2020

WASHINGTON — Today, U.S. Treasury Secretary Steven T. Mnuchin hosted a discussion with his counterparts from Canada, France, Germany, Italy, Japan, the United Kingdom, the European Commission, the Eurogroup, the IMF, and the World Bank. The G7 Finance Ministries remain in regular contact and continue to coordinate on timely and effective actions in response to the COVID-19 pandemic. The Finance Ministers discussed domestic and international economic responses underway and noted the improvements in economic conditions across G7 economies. They discussed global debt issues, calling for all official bilateral creditors to fully implement the G20 Debt Service Suspension Initiative (DSSI), and reiterated support for the Paris Club memorandum of understanding. They also agreed to advance debt data transparency and consider additional options going forward for low income countries, including an extension of the DSSI into 2021. They emphasized the importance of support for the manufacturing and distribution of vaccines and treatments for COVID-19, particularly related to low income countries. They also discussed country issues, including support for the people of Lebanon.

Source: U.S. Treasury Department


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