Georgieva told a news conference that the Group of 20 Common Framework for debt restructuring had been slow to deliver results, but it was encouraging that the time for dealing with individual country cases was now growing shorter.
Throwing out the Common Framework would put the world in a "much less predictable environment," she said, adding creative approaches were also needed, including moves to better align debt restructuring with the climate crisis.Japanese automaker Honda Motor and trading house Mitsubishi Corp have signed a pact to explore new businesses using electric vehicle batteries, the companies said on Thursday.
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Yellen urges more IMF, World Bank reforms for climate fightUS Treasury Secretary Janet Yellen said Tuesday she backed efforts to boost the lending firepower of the IMF and World Bank to combat poverty and climate change. Speaking on the sidelines of the IMF-World Bank annual meetings in Morocco, Yellen said the global lending system had already changed over time to face new challenges.
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Can World Bank, IMF Work With Africa to Break Its Debt Cycle?The annual meeting of the World Bank and International Monetary Fund (IMF) are due to take place in Marrakech, Morocco from October 9-15, 2023 and will be attended by approximately 12,200 participants from more than 180 countries. Of concern, is the perpetuation of a debt cycle in Africa, writes Dean Bhekumuzi Bhebhe for African Arguments. More than half of adaptation finance for Climate projects in Africa, comes in the form of loans, further deepening countries' indebtedness. As African nations
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