Economics
IMF Warns of Economic Collapse in Poor Nations Without Debt Fix
- G-20 creditors should suspend debt service during negotiations
- About 60% of low-income nations at high risk of debt distress
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The International Monetary Fund warned of “economic collapse” in some low-income countries unless creditors in the world’s richest nations suspend debt-service obligations and help renegotiate new terms.
About 60% of the world’s poorest countries are at high risk or are already in debt distress, double the share in 2015, IMF Managing Director Kristalina Georgieva and Ceyla Pazarbasioglu, head of the fund’s strategy, policy, and review department, said in a blog post Thursday.