G7 leaders pledge to address global debt vulnerability
Leaders urged reforms and a common approach to restructurings as OECD data showed official development assistance fell 23.1% in 2025.
- On Tuesday, G7 leaders meeting in Evian-les-Bains, France, pledged to address escalating debt vulnerabilities among developing countries, specifically targeting middle-income nations ineligible for existing G20 relief initiatives.
- OECD data reveals official development assistance dropped 23.1 per cent to $174.3 billion in 2025, led by a nearly 57 per cent reduction in U.S. aid, leaving public resources insufficient to meet global development needs.
- In a session including Egyptian President Abdel Fattah al-Sisi and South Korea's President Lee Jae Myung, the G7 affirmed international cooperation while urging reforms to emphasize private investment over traditional development policies.
- Jubilee USA Network executive director Eric LeCompte welcomed the focus on pre-emptive debt restructuring, stating "essentially what they're calling for is dealing with debt before it becomes a crisis."
- Oxfam International criticized the statement, urging leaders to restore aid to 0.7 per cent of gross national income, while observers noted the declaration did not address immediate liquidity needs for energy-importing nations.
15 Articles
15 Articles
G7 moves to tackle rising global debt risks as leaders warn of growing financial instability worldwide
EVIAN-LES-BAINS (France), June 17 — G7 leaders on Tuesday pledged to step up efforts to address high debt burdens among developing countries, including middle-income countries not currently eligible for a debt relief initiative launched by the broader Group of 20 large economies during the Covid-19 pandemic.In a joint declaration issued after a session that included guest countries Kenya, Egypt, India, Brazil and South Korea, the G7 leaders affi…
G7 unveils new global roadmap: End of aid dependency, big push for private investment — Key takeaways
The G7 joint declaration signals a significant shift in global development strategy. Rather than relying primarily on aid, the world's leading economies are advocating a model centred on private investment, debt sustainability, resilient supply chains and economic self-reliance.
G7 leaders pledge to enhance efforts to address global debt vulnerabilities
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