IMF chief says “much more decisive” action is needed to deal with debt problems

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IMF chief says




File photo of IMF Managing Director Kristalina Georgieva at a press conference at the Vatican


© Reuters / REMO CASILLI
File photo of IMF Managing Director Kristalina Georgieva at a press conference at the Vatican


WASHINGTON, Oct 18 (Reuters) – The head of the International Monetary Fund on Sunday called for major steps to be taken to address the increasingly unsustainable debt burden for some countries, and urged creditors and debtors to begin restructuring processes further. sooner rather than later.

At an online event hosted by the G30 group of former politicians and academics, IMF Managing Director Kristalina Georgieva said a six-month extension of the debt service freeze agreed to by the G20 last week would help, but said it would help. more urgent action was needed.

“We are buying some time, but we have to face the reality that we have much more decisive action ahead of us,” he said, urging creditors and debtors to begin restructuring without delay the debts of countries with unsustainable levels of indebtedness.

(By Andrea Shalal in Washington, Edited in Spanish by Juana Casas)

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