G20 foreign ministers agree to address debt burden  

By Simon Nare

The first G20 foreign ministers’ meeting has expressed great enthusiasm to help low-income and developing countries to repay their debt amid souring costs, South Africa’s G20 sous-sherpa Ambassador Xolisa Mabhongo revealed on Friday.

Addressing journalists alongside International Relations Minister Ronald Lamola, Mabhongo said at the end of the meeting in Johannesburg that G20 members were so eager to review repayments that it was agreed that a panel be established to handle the matter.

He said the G20 family wanted to ensure that the matter of cost to capital becomes one of the success stories of the South African G20 presidency.

“This arises from the reality we are facing today that many developing countries, a large number of them in the African continent are suffering under the heavy burden of debt. A number of African countries are on the verge of going into debt in distress.

“So, the