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IMF chief Georgieva tells creditors on debt restructuring: 'Get it done'

EconomyDec 03, 2021 08:55PM ET
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© Reuters. FILE PHOTO: International Monetary Fund (IMF) Managing Director Kristalina Georgieva attends the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Yves Herman/File Photo

By Andrea Shalal

WASHINGTON (Reuters) - Private and sovereign creditors should accelerate work on debt restructuring efforts for countries like Chad, Zambia and Ethiopia or risk discouraging countries that need help from participating, International Monetary Fund chief Kristalina Georgieva told the Reuters Next conference on Friday.

"Get it done," she said, calling for more timely debt restructuring agreements and agreement to freeze debt service payments once a country applies for help under the Common Framework set up by the G20 economies and the Paris Club.

"Why would they participate if it takes forever, and during that time, they are still expected to service debt?" she said.

IMF chief Georgieva tells creditors on debt restructuring: 'Get it done'
 

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Comments (1)
Honey Badger
Honey Badger Dec 03, 2021 9:58PM ET
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What about US debt are allowed to print dollars 24/7 and no plans to repay?
James Hilliard
James Hilliard Dec 03, 2021 9:58PM ET
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Repay the tax payers for paying troops, oinkers and teachers to protect the money printers?
Benoit Avril
Benoit Avril Dec 03, 2021 9:58PM ET
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They repay every day. It's called rolling the debt.
 
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