IMF notes obstacles to debt restructuring, banning cryptocurrency should be an option | – #IMF #notes #obstacles #debt #restructuring #banning #cryptocurrency #option
BENGALURU, February 25 (Reuters) – 20 There are some differences of opinion among (G20) countries on debt restructuring for crisis economies.
India’s chairmanship of the G20 has been affected by the COVID-19 pandemic in South Asian neighbors Sri Lanka, Bangladesh and Pakistan and Russian-Ukrainian war It comes at a time when the IMF is seeking emergency funds due to the resulting economic slowdown.
China, the world’s biggest bilateral lender, urged a group of major economies on Friday to conduct a fair, objective and in-depth analysis of the causes of the global debt crisis, as clamor for creditors to take a big haircut or accept losses grows. loans.
IMF Managing Director Kristalina Georgieva told reporters after chairing a roundtable with Indian Finance Minister Nirmala Sitharaman that “although there are still some disagreements on debt restructuring, we now have a global sovereign debt roundtable that takes into account all public and private creditors.” .
Latest NewsWorld CategoryG20 meeting: Germany China Ukraine regrets its position regarding the war, picture articleIndicator category Most of the G20 countries condemn Russia for the war, while China remains silent, video article with
See 2 more stories
“We have just finished a session where there is a commitment to resolve differences for the benefit of the countries.”
USATreasury Secretary Janet Yellen said there were no “takeaways” from the largely organizational meeting.
Further deliberations by the panel, which includes China, India and the G7 countries, as well as major bilateral creditors, including several debtor countries, are scheduled for the spring meetings of the IMF and the World Bank in April.
“Certainly we agreed that this is a useful forum,” Yellen told Reuters in an interview. “We look forward to being there.”
CRYPTO LIMITATIONS
Along with debt restructuring, cryptocurrency regulation is another priority area for India, which Georgieva agreed with.
“We need to distinguish between state-backed central bank digital currencies and stablecoins and privately issued crypto-assets,” Georgieva said.
“There should be a very strong push for regulation … if regulation fails, if you’re slow to do it, then we shouldn’t be off the table banning these assets because they could pose a risk to financial stability.”
Yellen said that she would “outright ban crypto activities offer “He did not do it, but it is important to create a strong regulatory framework,” he said.
Reporting by Aftab Ahmed, Sarita Chaganti Singh and Shivangi Acharya; Written by Sudipto Ganguly; Edited by Krishna N. Das and William Mallard
Our standards: Thomson Reuters Trust Principles.
2023-02-25 18:55:53
Source – reuters
Translation“24 HOURS”