IMF wants to resolve debt crisis in Sri Lanka

IMF wants to resolve debt crisis in Sri Lanka

The International Monetary Fund (IMF) wants to solve the debt crisis in Sri Lanka.

IMF Managing Director Kristalina Georgieva said that high interest rates and the depleting dollar are devastating for many countries, such as Chad, Ethiopia, Zambia, Ghana, Lebanon and Sri Lanka.

She said the IMF must solve the debt problem in those countries.

“This is why at the IMF, we are working very hard to press for debt resolution for these countries,” Georgieva said.

Georgieva expressed these views on CBS’s show Face the Nation.

She said that for much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity.

Georgieva said, the U.S. economy is standing apart and may avoid the outright contraction that is likely to afflict as much as a third of the world’s economies.

The “U.S. is most resilient,” she said, and it “may avoid recession. We see the labor market remaining quite strong.” (Colombo Gazette)

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