In her curtain raiser speech which previews key issues to be addressed at the IMF/World Bank Annual Meetings in Washington, the Fund’s managing director, Kristalina Georgieva, stressed the need for sovereigns to be more prudent and structure their medium-term framework to reduce their debt burdens.
“Here we see yet another deep divide, with some countries more affected than others, especially in the developing world. Many started the pandemic with very little fiscal firepower. Now they have even less room in their budgets and very limited ability to issue new debt at favourable terms. In short, they face tough times and are caught on the wrong side of the fiscal financing divide.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: