IMF Urged to Intensify Support for Debt-Ridden Nations

IMF Managing Director Kristalina Georgieva stressed the need for the organization to play a more active role in debt restructuring efforts. She highlighted requests from countries, particularly in Africa, for increased technical support. A new restructuring framework has been approved to aid these nations.

IMF Managing Director Kristalina Georgieva called for a more active involvement of the International Monetary Fund in global debt restructuring. Speaking at a Bretton Woods Committee event, she emphasized the increasing challenges low- and middle-income countries face due to rising debt.

African nations, among others, have requested the IMF to enhance its technical assistance to nations struggling with substantial debt. Georgieva responded by highlighting the organization's commitment to this cause.

The approval of a new playbook by the Global Sovereign Debt Roundtable is anticipated to facilitate countries in managing complex debt restructuring processes effectively, with an upcoming meeting to advance these discussions.

(With inputs from agencies.)