(Updates with comments, context)
By Jorgelina do Rosario and Yoruk Bahceli
Jan 19 (Reuters) – Zambia needs “desperate debt relief” and agreements under a Group of 20 restructuring vehicle are proving difficult, the World Bank’s managing director of operations said on Thursday.
“In the last two years, we have seen the limitations of the common framework,” Axel van Trotsenburg told a panel at the World Economic Forum’s annual meeting in Davos, moderated by Reuters Editor-in-Chief Alessandra Galloni.
Zambia has become a test case for the G20-led “Common Framework” restructuring vehicle launched during COVID-19 to streamline debt restructuring efforts as poorer countries buckle under the fallout from the pandemic hit. It aims to include n…
Read the full article at: https://finance.yahoo.com/news/1-davos-2023-world-bank-161318435.html