long week

IMF: For poor countries, a springtime of debt?

By Yara Rizk

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Posted on April 14, 2023 14:50

© According to Kristalina Georgieva (shown here at the Spring Meetings, April 2023), head of the IMF, 15% of low-income countries are already in a debt crisis and 40% are getting closer to it. MANDEL NGAN/AFP. — According to Kristalina Georgieva (shown here at the Spring Meetings, April 2023), head of the IMF, 15% of low-income countries are already in a debt crisis and 40% are getting closer to it. MANDEL NGAN/AFP.

More transparency, Chinese cooperation and financial aid from development banks… During the spring meetings of the World Bank and the IMF, various requests were made by poor countries to restructure their debts. We take stock.

On 12 April, as part of the spring meetings of the World Bank (WB) and the IMF, debtor countries, private sector representatives and international financial institutions met to discuss ways to accelerate and streamline debt restructuring efforts.

To date, according to IMF head Kristalina Georgieva, 15% of low-income countries are already in a debt crisis and 40% are close to it.

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