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IMF Warns Faster Debt Relief Needed as More Nations Seek Help

  • G-20 debt program’s scope must include middle-income nations
  • IMF Deputy Chief Gopinath speaks in interview on Bloomberg TV
Bloomberg business news
WATCH: The US is likely to experience higher inflation for some time, and the top economic job is to ease price growth and not cut rates too soon, IMF First Deputy Managing Director Gita Gopinath says. Source: Bloomberg

More countries are likely to seek debt relief as a stronger dollar makes repayments tougher, and the program that rich nations have to help poorer ones needs to be faster and broader, the International Monetary Fund’s deputy chief said. 

About 60% of low-income countries are at high risk of or already in debt distress, and about 20 emerging markets have debt that’s trading at distressed levels, First Deputy Managing Director Gita Gopinath said in an interview with Michael McKee on Bloomberg Television Friday.