LONDON (Reuters) – Rich nations, development banks and private creditors need to ramp up support for poorer countries to prevent humanitarian crises and a lost decade of global growth, the prominent G30 group of former policymakers and academics said on Wednesday.
How to support struggling countries is the most pressing issue being discussed during the virtual annual meetings of the International Monetary Fund and World Bank this week amid warnings 150 million people could be pushed into extreme poverty by the end of next year.
The G30, which includes former U.S. Treasury Secretary Larry Summers, urged the IMF to boost lending.
We call on the IMF to double its concessional lending as a matter of urgency, Summers said, adding that IMF me…
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