Groups blast lack of progress on debt issues during South Africa's G20 presidency

By Andrea Shalal

WASHINGTON (Reuters) -A total of 165 organizations on Monday criticized South Africa for failing to make progress on debt sustainability issues during its presidency of the G20 major economies and urged it to push for reforms before it hands over to the U.S. on December 1.

In a letter to South African President Cyril Ramaphosa released on the first day of the annual International Monetary Fund and World Bank meetings in Washington, the groups called for “the cancellation of all unsustainable and illegitimate debts, from all creditors” to protect funds needed for education, health, gender equality and climate resilience.

They also urged the G20 to push for “radical reforms” of debt restructuring processes, back creation of both an African Credit Rating Agency and a “Borr