IMF asks for help for debtor countries

The director of the International Monetary Fund (IMF), Kristalina Georgieva, said that countries in better conditions should help vulnerable countries, especially those with debt problems.

The IMF chief said that such assistance would be particularly important in the current conditions of high interest rates and devaluation of many currencies.

Attending the Boao Forum, Georgieva said, “We urgently need faster and more effective global mechanisms to provide debt management to these countries,” adding that these mechanisms will benefit both borrowers and lenders.

‘UNCERTAINTY WAS ELIMINATED’

“If it succeeds, it will remove an important element that creates uncertainty in the global landscape,” Georgieva said.

Described as the Asian version of the World Economic Forum held in Davos, Switzerland and ending tomorrow, the Boao Forum is taking place on the southern Chinese island of Hainan. (Reuters)