The government of Zimbabwe is seeking help from its neighbor and G20 member, South Africa, to support its efforts to restructure debt and regain access to international capital markets.

At the center of this appeal is the Common Framework, a plan launched by G20 nations in 2020 to assist heavily indebted poor countries in restructuring their loans—providing breathing room and opening pathways to additional credit.

Zimbabwe currently owes more than $21 billion to various international lenders and is struggling to revive its economy. By leveraging the Common Framework, Zimbabwe hopes to secure relief and attract new financing to address its long-standing economic crisis.

South Africa could assist in multiple ways: by lobbying wealthy nations, encouraging support through multilateral forums, or promoting new lending opportunities via its local financial institutions and private investors