Posted 4/11/2024, 1:45:23 PM
Treasury Official Calls for Creditor Coordination on Developing World Debt Crisis
- Treasury official to call for decisive, coordinated action by creditors to address financial challenges faced by developing countries
- Urgent steps needed for indebted countries facing falling inflows and rising debt payments
- Criticism of emerging official creditors like China for not participating enough in debt restructuring
- Developing countries spending more on debt service than receiving in new funds
- Suggestions like sustaining positive net flows for responsible borrowers, changes to Common Framework, and safe harbors for voluntary private debt relief
