How much debt has been deferred under the G20 DSSI?

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Over US$5 Billion in Debt Payments Deferred Under G20 Initiative

More than 40 eligible countries have deferred approximately US$5 billion in debt payments through the G20 Debt Service Suspension Initiative (DSSI). This figure represents a significant portion of potential relief, though it falls short of the nearly US$12 billion that could have been deferred had all eligible nations participated.
Participation Shortfall from Eligible Nations

The DSSI, approved in April, aimed to provide financial breathing room for the world's poorest countries grappling with the economic fallout of the coronavirus pandemic. While over 40 of the 73 countries eligible for the initiative have taken advantage of the debt deferral, full participation was not achieved. This lower-than-expected uptake means that the total amount of deferred debt is considerably less than the projected US$12 billion in potential relief.
Challenges with Private Creditor and Chinese Participation

A persistent challenge for the DSSI has been the limited involvement of private creditors. Furthermore, concerns have been raised regarding the extent of China's participation, with some economists noting that not all of its state-owned institutions have fully engaged with the initiative. These factors contribute to the overall shortfall in debt relief realised compared to the initiative's potential.
Broader Debt Relief Needs Highlighted

The situation for heavily indebted countries remains a significant concern, with institutions like the World Bank highlighting the substantial financing gaps faced by developing nations. African states alone, for instance, are projected to need hundreds of billions of dollars through 2023 to manage the pandemic's economic impact. This underscores the need for broader debt relief measures beyond the scope of the DSSI for countries not eligible for the program.

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How much debt has been deferred under the G20 DSSI?

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