Global Economics

‘Get it done’; IMF MD Georgieva to debtors regarding debt restructuring

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International Monetary Fund director Kristalina Georgieva suggested that private and sovereign creditors should speed up debt restructuring operations for countries like Chad, Zambia, and Ethiopia, or risk scaring countries that need assistance from collaborating.

“Get it done,” she added, pushing for more prompt debt restructuring agreements as well as an agreement to suspend debt service payments once a country seeks for assistance under the G20 and Paris Club’s Common Framework.

“Why would they participate if it takes forever, and during that time, they are still expected to service debt?” she said.