By: Biswajit Dhar, He is a former professor of economics, Jawaharlal Nehru University and also a Distinguished Professor at Council for Social Development, New Delhi.
The Indian Prime Minister says a G20 strategy has driven global debt restructuring since his country assumed leadership. That’s not the full picture.
Indian Prime Minister Narendra Modi, who is about to host G20 leaders in New Delhi, has boasted about his country’s role in easing global debt stress.
“In 2023, under India’s presidency, the G20 gave a significant boost to debt restructuring through the Common Framework,” Modi said.
But despite Modis boast, the Common Framework is flawed and needs drastic reform. Without that reform, the growth of many developing countries…
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