Managing Director of the International Monetary Fund Kristalina Georgieva says a more predictable, timely, and orderly processes are needed for Sri Lanka.
Speaking at the first meeting of the G20 Finance Ministers and Central Bank Governors in Bengaluru, India, Managing Director of the International Monetary Fund Kristalina Georgieva said that it is imperative for the G20 to strengthen the debt architecture.
She said, “In light of rising debt vulnerabilities in many countries, I strongly endorse efforts to strengthen the debt architecture and improve the speed and effectiveness of debt resolution.”
She said that sovereign debt vulnerabilities is particularly the case for “developing and low-income countries with very limited policy space and huge development needs.”
Georgieva stressed that a more predictable, timely, and orderly processes are needed both for countries under the Common Framework (CF) and for those not covered by it, including Sri Lanka and Suriname.
She added, “This means that we must enhance dialogue and collaboration on debt issues.”