The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has declared on Thursday that “we urgently need faster and more effective mechanisms to provide debt support for vulnerable countries“.
Additional comments
Countries with a stronger position must help vulnerable members of the global communityparticularly those who suffer from debt problems.
The establishment of these mechanisms would bring significant benefits to both debtors and creditors.
The success would remove an important source of uncertainty of the world scene.
We welcome China’s commitment in the common framework and its participation in the new global round table on sovereign debt.
Countries should cooperate to revitalize international trade in an equitable waydiversify supply chains based on economic logic.
Asia would be the most affected by galloping fragmentation.
IMF studies indicate that the long-term cost of trade fragmentation amounts to 7% of world GDP.
Government fiscal policies should provide targeted support to those most in need or most affected by food insecurity and the cost of living crisis.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
