The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, stated on Thursday that “vulnerable nations urgently require faster, more effective methods for debt support.
Stronger nations should assist less fortunate people around the world, especially those who are struggling with debt.
Both debtors and creditors would gain significantly from the establishment of such institutions.
Success would eliminate a significant source of uncertainty from the whole situation.
We applaud China’s participation in the new global roundtable on sovereign debt and its engagement in the common framework.
Governments should work together to diversify supply chains based on economic rationale and reenergize global commerce in an equitable manner.
The region most negatively impacted by runaway fragmentation would be Asia.
According to IMF study, the long-term cost of trade fragmentation might reach 7% of the world’s GDP.
Government fiscal policies should offer specialized assistance. to those who are most in need or who are most impacted by the food insecurity and financial crises.
