There is some disagreement over debt restructuring for troubled economies, the head of the International Monetary Fund said on the sidelines of a G20 meeting on Saturday, adding that banning private cryptocurrencies should be an option.
India’s G20 chairmanship comes at a time when its South Asian neighbors Sri Lanka, Bangladesh and Pakistan are seeking urgent IMF funds due to the economic slowdown caused by the COVID-19 pandemic and the Russia-Ukraine war.
The world’s biggest bilateral creditor China on Friday urged G20 countries to conduct a fair, objective and in-depth analysis of the causes of global debt issues as clamor grows for lenders to take bigger haircuts on debt or accept losses.
IMF Managing Director Kristalina Georgieva told reporters after the roundtable, co-chaired with Indian Finance Minister Nirmala Sitharaman, “On debt restructuring, while there are still some disagreements, we now have a consensus of opinion with all public and private creditors.” The Global Sovereign Debt Roundtable.” ,
