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International Monetary Fund Managing Director Kristalina Georgieva on Thursday said consensus was growing in sovereign debt restructuring discussions on issues such as the comparability of treatment of private and public creditors.
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.
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