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Story summary
- The UK Labour Party will prioritize debt relief for developing nations during its 2027 G20 presidency.
- Development Finance International proposes a ten-year debt-service holiday for 27 countries, cutting payments to under 10% of revenues.
- The plan would cost $13 billion annually, with private creditors bearing most of the expense.
- An extra $700 million per year would fund five-year holidays for six small-island states after extreme weather.