PARIS/WASHINGTON (Reuters) – G20 countries and Paris Club creditor nations must start thinking about debt relief for the poorest countries beyond a debt payment freeze this year and outright restructurings may be unavoidable, top global finance chiefs said on Wednesday.
Speaking to an online G20 debt conference, International Monetary Fund Managing Director Kristalina Georgieva said debt restructuring may be needed on a country-by-country basis for those that simply cannot stay above water without determined action.
World Bank President David Malpass told the conference the debt payment freeze should be extended through 2021, and called for reductions in the debt load of some of the most indebted countries to avoid an even longer poverty…
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