Conjuncture The Common Framework (CF) was formulated by the IMF and the World Bank in response to efforts by the Group of 20 Nations (G-20) to assist low-income countries address the significant rise in financing needs and rapid accumulation in public sector debt positions as a consequence of the COVID-19 Pandemic The CF was modelled on traditional Paris Club processes and traditions employed during a period when developed western countries' claims on low-income debtors represented a significant percentage of total public sector debts Creditor bases have evolved over the past few years, with diverse commercial and traditional non-Paris Club creditors such as China now representing a majority segment of total public sector debts in many low-income countries
INTERNATIONAL MONETARY FUND
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