'Much more decisive' action needed to deal with debt problems: IMF chief

She said creditors should adopt contractual provisions to minimize economic disruption, increase transparency and endorse a common framework agreed in principle by the G20 last week

The head of the International Monetary Fund on Sunday called for significant steps to address the increasingly unsustainable debt burdens of some countries, urging creditors and debtors to start restructuring processes sooner rather than later.
 

IMF Managing Director Kristalina Georgieva said a six-month extension of the Group of 20 major economies' freeze in official bilateral payments would help low-income countries hammered by the Covid-19 pandemic, but more urgent action was needed.
 

"We are buying some time, but we have to face reality that there are much more decisive actions ahead of us," she told an online event hosted by the