Release G20, from debt to sustainable investments


The  Conference, promoted by the NGO Link 2007 network  in collaboration with the Ministry of Foreign Affairs and International Cooperation, will be held online on 23 June (10 – 12.30) and will be opened by Minister Luigi Di Maio and concluded by the Deputy Minister for development cooperation Marina Sereni. It was scheduled to take place  a few days before the G20 Development Ministerial Conference  in Matera on 29 June.

As part of the thematic analyzes of the Italian Presidency of the G20,  the issue of sovereign debt will be explored with some ministers of African governments and with Ambassadors from the continent accredited in Italy.

The “ Release G20 ” proposal elaborated by Link 2007 will be presented at the webinar by the president Roberto Ridolfi . It provides for a flexible conversion, total or partial, of the debt of low-income countries and those whose debt problems are aggravated by the economic and social consequences of the pandemic, which have compromised their development capabilities and prospects as well as sustainability itself of the debt.

The proposal focuses in particular on the countries of the African continent  and suggests  replacing debt repayments by allocating the related amounts in local currency to investments aimed at creating new jobs  and achieving the sustainable development goals of the 2030 Agenda.

The G20 decision to suspend debt payments for 76 developing or low-income countries is very important because it eases the debtor countries’ lack of liquidity. However, it risks merely postponing the emergence of the problem in time and being insufficient for both development prospects and the achievement of sustainable development objectives.

The “ Release G20 ” initiative proposes carrying out a debt conversion which avoids cases of default and which at the same time promotes investments for an environmentally and socially sustainable recovery.