IMF, World Bank, and India to host sovereign debt roundtable

News Image

MG News | February 14, 2023 at 09:33 AM GMT+05:00

0:00

February 14, 2023 (MLN): The International Monetary Fund (IMF), World Bank, and India are scheduled to host a virtual meeting on Friday to address global debt concerns, as per Bloomberg.

Creditors such as China, France, Japan, the UK, and the Institute of International Finance will be present along with borrowing countries, including Ethiopia, Ghana, and Zambia.

The meeting aims to identify solutions for nations with unsustainable debt levels and address shortcomings in debt restructuring, as well as ensure comparability of treatment between official and private creditors. The meeting also seeks to resolve legal and technical issues.

The Paris Club, which includes mostly Western traditional creditor nations, joined forces with China, India, and Saudi Arabia in 2020 under the Group of 20 fora to restructure struggling countries' debt through the Common Framework.

However, the process has been slow and only applies to low-income nations, leaving policymakers to search for other options to provide relief or restructuring for poor and middle-income countries with debt due in the hundreds of billions of dollars.

The meeting will occur before the G-20 finance ministers and central bankers meeting in Bangalore, India, where participants will discuss the debt-relief issue on the sidelines. However, not all the roundtable participants will be present, as borrowing countries will not be in attendance, the people familiar with the plans told Bloomberg.

Copyright Mettis Link News 

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 119,450.00
115,635.00
4270.00
3.75%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 68.77
66.50
2.18
3.27%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 13, 2025 at 10:26 AM GMT+05:00

K-Electric dispels rumours of peak hour changes


July 11, 2025 at 10:56 PM GMT+05:00

Gold price in Pakistan rises Rs2,300 per tola


July 11, 2025 at 05:49 PM GMT+05:00

PKR gains 10 paisa per USD


July 11, 2025 at 05:41 PM GMT+05:00

PSX Closing Bell: Bulls Serenade The Bourse


July 11, 2025 at 05:06 PM GMT+05:00

UBL doubles profit to Rs65bn in 1HCY25



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg