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PM Modi flags emerging market debt risk as G20 finance chiefs meet

Modi acknowledged it's not an easy task, but urged the nations to work collectively to strengthen multilateral banks for meeting global challenges like climate change and high debt levels

PM Modi, Narendra Modi
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Photo: Bloomberg

Vrishti Beniwal | Bloomberg
Indian Prime Minister Narendra Modi underscored the threat being faced by debt-ridden developing nations as finance chiefs from the Group of 20 kicked off their meetings. 
 
“Financial viability of many countries is threatened by unsustainable debt levels,” Modi said in a virtual address Friday to the G-20 leaders. “It is now up to you — the custodians of the leading economies and monetary systems of the world to bring back stability, confidence and growth to the global economy.”

Issues around debt restructuring of emerging nations such as Sri Lanka and Zambia are at the centre of discussions in Bengaluru, formerly

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First Published: Feb 24 2023 | 12:08 PM IST

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