IMF's debt recast programme should help nations overcome fiscal stress: FM

The initiative came into effect in April was initially agreed till end of 2020

Finance Minister Nirmala Sitharaman said the International Monetary Fund's debt restructuring programme should aim at helping the countries overcome the fiscal stress caused by the coronavirus pandemic.

"...it would be important to take into consideration the circumstances and concerns of both creditors and debtors and that in the process of debt restructuring, care must be taken to not saddle the debtor countries with overly burdensome conditionalities," she said while addressing the G20 Finance Ministers and Central Bank Governors Meeting through video conferencing.

One of the key outcomes of the G20 Action Plan has been the Debt Service Suspension Initiative (DSSI) which provides