Business Standard

Faster debt relief needed as more nations seek help, says IMF's Gopinath

More countries are likely to seek debt relief as a stronger dollar makes repayments tougher, says IMF chief

Gita Gopinath
Premium

Gita Gopinath (Photo: Bloomberg)

Ana Monteiro & Ramsey Al-Rikabi | Bloomberg
More countries are likely to seek debt relief as a stronger dollar makes repayments tougher, and the program that rich nations have to help poorer ones needs to be faster and broader, the International Monetary Fund’s deputy chief said.

About 60 per cent of low-income countries are at high risk of or already in debt distress, and about 20 emerging markets have debt that’s trading at distressed levels, First Deputy Managing Director Gita Gopinath said in an interview with Michael McKee on Bloomberg Television Friday.

“We will likely see more countries needing debt relief,” she said.

Surging

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Aug 27 2022 | 6:31 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com