"Forthepoorestcountries,povertyisrisingrapidly,medianincomesarefalling,andgrowthisdeeplynegative,"saysDavidMalpass."Debtburdens--alreadyunsustainableformanycountries--arerisingtocrisislevels."WASHINGTON,July19(Xinhua)--WorldBankGroupPresidentDavidMalpassonSaturdayurgedtheGroupof20(G20)countriestoextendthetimeframeoftheDebtServiceSuspensionInitiativethroughtheendof2021,callingitoneofthekeyfactorsinstrengtheningglobalrecovery."IurgeyoutoextendthetimeframeoftheDebtServiceSuspensionInitiative(DSSI)throughend2021andcommittogivetheinitiativeasbroadascopeaspossible,"MalpassmadetheremarksatthevirtualG20FinanceMinistersandCentralBankGovernorsMeeting,accordingtoastatement."WevemadeagreatdealofprogresswithDSSIinashortperiodoftime,butmoreneedstobedone,""deepestglobalrecessionindecades,"andwhatmayturnouttobe"oneofthemostunequal"intermsofimpact."Forthepoorestcountries,povertyisrisingrapidly,medianincomesarefalling,andgrowthisdeeplynegative,"hesaid."Debtburdens--alreadyunsustainableformanycountries--arerisingtocrisislevels."Evenwiththeseimmediatesteps--alongersuspensionofdebtpayments,aDSSIscopethatincludesmoredebtandmoreofficialbilateralcreditors,participationbycommercialcreditorsandtheWorldBankslargepositivenetflows--manyofthepoorestcountrieswontbeabletomaketheresultingdebtburdenssustainableinthemediumterm,Malpassnoted."Theeconomicrepercussionsfromthepandemicareexpectedtoinflictlastingscarsongrowththroughlowerinvestment,erosionofhumancapital,andtheretreatfromglobaltradeandsupplylinkages,""openthedoortoconsultations"aboutthedebtoverhangitselfandeffectivewaystoreducethenetpresentvalu"Lookinglongerterm,creditorsrightsfrequentlytakeprecedenceoverthepeopleinthedebtorcountries,addingtothedifficultyofdebtresolutions,"hesaid."Theinternationalcommunityneedstorecognizethisimbalanceifwearegoingtoachieveeffectivedebtresolutionsoradjusttheprocessinawaythatencouragesgoodoutcomes."Malpassalsohighlightedtheimportanceofdebttransparency,notingthatcreditorsneedtofullyassessthedebtsustainabilityoftheirpotentialborrowers,citizensneedtobeabletoevaluatetheirleadersforthedebttheytakeon,andborrowersneedtodesignstrategiesbasedonaclearunderstandingoftheirdebt.。