Mexico urges to solve global debt increase at G20 summit

Mexican President Andres Manuel Lopez Obrador on Sunday urged to resolve the increase in debt at the global level caused by the novel coronavirus (COVID-19) pandemic at the G20 Summit.

The Mexican president presented his country as an example, where public debt rose to 51.1 percent of the Gross Domestic Product (GDP), from 44.8 percent before the pandemic.

“If we do not address this issue now, in the future, it is going to become another threat to economic stability and social welfare,” he added.

Lopez Obrador said that cooperation and mutual aid will enable the world to overcome “this painful period.”

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