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‘Get it done’ -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO. Kristalina Georgieva, International Monetary Fund’s Managing Director, attends the UN Climate Change Conference in Glasgow (Scotland, Britain), November 3, 2021. REUTERS/Yves Herman/File Photograph

By Andrea Shalal

WASHINGTON, (Reuters) – Private and sovereign creditors need to accelerate debt restructuring efforts in countries such as Chad, Zambia, and Ethiopia, or else risk disallowing countries who are eligible for assistance, Kristalina Georgieva, chief of the International Monetary Fund, told Friday’s Reuters Next conference.

She said “Get it done”, calling for faster debt restructuring agreements, and for agreement to freeze the debt service payments after a country has applied for assistance under the Common Framework established by the G20 countries and the Paris Club.

“Why would anyone participate in a process that takes so long and while they’re still required to pay off debts?” She said.

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