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Before G20 leaders, AMLO proposes to remove amounts of debt from poor countries

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Before G20 leaders, President Andrés Manuel López Obrador proposed to remove amounts and the payment of debt service to the poorest countries in the world so that they can face the global economic crisis caused by the Covid-19 pandemic.

By participating in the G20 Virtual Summit of Leaders, before Heads of State of the most important economies at the global level, the President of Mexico pointed out that it is also necessary to guarantee that middle-income countries can have access loans with interest rates equivalent to those of developed countries.

He stressed that cooperation and mutual aid will allow all nations to overcome this painful period.

“I hope that we are able to leave in history an example of how to deal with a global health threat and to a serious economic crisis through the application of the principle of universal brotherhood ”.

Read also: Faced with crisis, the poor come first: AMLO to G20

In his message, the head of the Executive recalled that in the strategy to face the crisis economy Mexico did not contract debt, but the consequent loss of wealth raised the public debt of our country from 44.8 to 51.1% of the national Gross Domestic Product (GDP).

“The same has happened all over the world, the debt grew from the pandemic by an average of 20% and if we do not address this issue now, in the future it will become another threat to economic stability and social welfare. ”.

President López Obrador reiterated that it was useful for Mexico to abandon the economic recipes applied during the neoliberal period, starting by discarding the strategy of indebting the people to rescue those above.

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