Global bodies like the IMF need to step up and improve the framework for sovereign debt financing so that emerging market economies, like Sri Lanka, can get out of their debt distress problems faster.
That’s according to the former governor of the State Bank of Pakistan, the country’s central bank.
Reza Baqir, currently the global head of sovereign advisory services at Alvarez and Marsal, pointed out that Sri Lanka is still waiting for the International Monetary Fundto unlock its $2.9 billion loan to help restore stability as the country grapples with dire economic conditions.
Sri Lanka “stopped paying its creditors in spring of last year and it’s been close to nine months, and we are still waiting for a meeting of the IMF board,” …
Read the full article at: https://www.cnbc.com/2023/01/30/debt-restructuring-framework-must-improve-pakistans-ex-central-banker.html