BOAO (China), March 30 — Countries in a relatively stronger position should help vulnerable nations especially those under debt distress, International Monetary Fund managing...
BOAO , March 30 — Countries in a relatively stronger position should help vulnerable nations especially those under debt distress, International Monetary Fund managing director Kristalina Georgieva said on Thursday.
“We urgently need faster and more efficient global mechanisms for providing debt treatments to these countries,” Georgieva said at the Boao Forum for Asia, adding that such mechanisms would significantly benefit both debtors and creditors.Georgieva also said the IMF welcomes China’s engagement in the Common Framework programme and participation in the new Global Sovereign Debt Roundtable.
Georgieva also said countries need to work together to reinvigorate international trade in an equitable way for more people to benefit from globalisation, and diversify supply chains based on economic logic.
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