Economics
IMF Warns Poorest Nations Will Default Without Debt Relief
- Georgieva repeats call for private lenders to join suspension
- Debt relief will give nations time to work on sustainability
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The head of the International Monetary Fund called on private creditors to join the Group of 20 in providing debt relief for the world’s poorest nations, saying that the alternative to suspension and restructuring is defaults.
A debt-service suspension would provide time for restructuring debt on a case-by-case basis in countries where debt sustainability needs to be restored, Managing Director Kristalina Georgieva said in a webcast with the U.S. Chamber of Commerce Tuesday.