Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent discussions he has had with his (a) G8, (b) G20 and (c) other international counterparts on (i) the global recession as a result of covid-19, ii) potential cancellation of world debt and (c) plans to support recovery of the global economy.

The UK Government continues to engage very closely and regularly with the international community, including the G7, G20, and various international organisations, to respond to the economic impacts of the Covid-19 pandemic. G7 Finance Ministers continue to convene regularly to work together on critical economic issues. G20 Finance Ministers last met on April 15 and will next meet on July 18 to continue to coordinate the international response to the pandemic and support the global recovery.

The UK recently led the development of the G20 Action Plan, which brings together ambitious and wide-ranging commitments to address the economic impact of the virus, including to work with international counterparts to secue a strong global economic recovery. Additionally, as part of this, the Chancellor and his G20 counterparts agreed to a temporary suspension on debt service repayments from the poorest countries. We are working closely with G20 partner countries and international organisations to monitor the implementation of the Action Plan and ensure it maintains efficacy. The UK Government will also work through the G20 and Paris Club of official creditors to closely monitor sovereign debt vulnerabilities in developing countries.