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IMF’s Gopinath says ‘lot more’ work needed to help countries reduce debt levels -Breaking

by Mike Robinson

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WASHINGTON (Reuters] – It is important that the Group of 20 countries intensify efforts to assist low-income countries with their high debts, according to The No. The International Monetary Fund’s No. 2 official stated Tuesday.

Gita Gopinath (First Deputy Managing Director) stated that 60% of low income countries were at risk or in high debt distress. She said it would be increasingly difficult for them to service their debts. The G20 Common Framework must be overhauled to speed up the delivery of restructuring agreements.

She stated that while it has shown some improvement, “a lot more must be done to get it to fulfill its promises” for countries facing unsustainable debt levels.

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