IMF highlights need to help emerging countries

US, WASHINGTON (ORDO NEWS) — The Managing Director of the International Monetary Fund (IMF) on Thursday urged governments and the private sector to do everything possible to help emerging markets and developing countries weather the economic and health crisis linked to the new coronavirus .

Kristalina Georgieva welcomed the decision of the G20 and Paris Club creditors, who announced Wednesday the establishment of a moratorium on debt servicing of the poorest countries, and said that the IMF’s executive committee had urged unanimously private sector creditors to join them to avoid bankruptcies.

IMF and World Bank are looking for ways to ease the burden on other countries also facing high debt loads, she said in a video conference call, adding that it was essential to curb mass exits. capital from emerging markets and developing countries.

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