G20 leaders agreed on Saturday to urgently and effectively address debt vulnerabilities in developing countries including Zambia, Ghana and Sri Lanka.
Issues related to debt vulnerabilities in three countries, Zambia, Ghana and Ethiopia, are addressed under a common framework, while Sri Lanka is outside the framework.
The G20 leaders’ declaration in New Delhi pointed out that global financial conditions have tightened significantly, which may exacerbate debt vulnerabilities, persistent inflation and geoeconomic tensions, and the balance of risks remains tilted to the downside.
The declaration stated that G20 leaders committed to promoting resilient growth by urgently and effectively addressing the debt vulnerabilities of developing countries.
Leaders reiterated the importance of addressing the debt vulnerabilities of low- and middle-income countries in an effective, comprehensive and systematic manner.
The G20 called for continued discussions on policy-related issues related to the implementation of the common framework to make appropriate recommendations.
Here are some of the defining moments from the first day of the G20 summit.
Union Finance Minister Nirmala Sitharaman had a dinner with G20 finance ministers and heads of international organizations on the eve of the G20 summit in New Delhi
President Droupadi Murmu and Prime Minister Narendra Modi arrived at the Bharat Mandapam to attend a dinner on the sidelines of the G20 summit in New Delhi on Saturday to welcome Japanese Prime Minister Fumio Kishida.
President Droupadi Murmu and Prime Minister Narendra Modi warmly welcomed South Korean President Yoon Suk Yeol on his arrival at the Bharat Mandapam for a dinner on the sidelines of the G20 Summit in New Delhi.
President Droupadi Murmu and Prime Minister Narendra Modi welcomed International Monetary Fund (IMF) Managing Director Kristalina Georgieva Kristalina Georgieva) arrives at the Bharat Mandapam in New Delhi to attend a dinner on the sidelines of the G20 Summit.
President Drupadi Murmu and Prime Minister Narendra Modi welcomed European Commission President Ursula von der Leyen as she arrived for a dinner on the sidelines of the G20 summit at the Bharat Mandapam in New Delhi.
Indian Prime Minister Narendra Modi (right) with African Union Chairperson and Comoros Union President Azali A Sumani shares a relaxing moment. 2023.
Photo: Evelyn Hochstein
Italian Prime Minister Giorgio Meloni, US President Joe Biden, Indian Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva attended the Global Bio Summit at the G20 Summit in New Delhi Launching ceremony of the Fuel Alliance.
Prime Minister Narendra Modi addressed the first session on ‘One Planet’ at the 2023 G20 Summit at the Bharat Mandapam Convention Center in New Delhi.
An inside view of the Bharat Mandapam where the G20 summit was held in the capital on Saturday.
Photo: Amit Dev
Panoramic view of the G20 summit venue in New Delhi, India.
Prime Minister Narendra Modi with US President Joe Biden, Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud and European Commission President Ursula Von der Leyen attends a corridor event on the sidelines of the Global Infrastructure and Investment and India-Middle East-Europe Economic Partnership 2023 G20 Summit in New Delhi on Saturday